The ex-wife of multimillionaire Richard Stephenson, founder and chairman of the Cancer Treatment Centers of America hospital network, is demanding that she be receive $5 million a year after divorcing her husband.
Stephenson and is ex-wife, Alicia Stephenson, were married in 1991. At the time a prenuptial agreement was made, however the document stated that the amount to be paid in monthly maintenance would be negotiable should the marriage last more than seven years.
Alimony Dispute Enters Seventh Year
The monthly alimony payment amount has been an issue of debate for over seven years. Mrs. Stephenson is seeking $5 million annually from her ex-husband so that she can continue to support her lavish lifestyle which includes multiple homes, four motorcycles, two boats, attending extravagant events, and trips on private jets.
The hearing has just recently entered its third week. Lawyers have requested for two additional weeks for the trial can come to a close.
Top 5 Mistakes Made in High Asset Divorces
A divorce is almost always complicated, but those which involve high value assets are significantly more complex. If you are facing a high asset divorce, these are the top 5 mistakes to avoid:
- Agreeing to anything just to end the divorce. Agreeing to terms to get away from a person can have devastating life changing effects on you financially
- Guilt over the divorce. The spouse who feels guilty about the divorce tends to give more than necessary
- Attempting to hide assets. Hiding assets will damage your credibility in court. Attorneys who are familiar with high asset divorces will uncover any “hidden” or “missing” assets
- Improperly accounting for liabilities and assets. When you get a divorce a financial affidavit will need to be filled out and financial documents will need to be provided. Take the inventorying process seriously and make sure that all assets and liabilities are noted
- Not considering tax consequences. You should not agree on alimony without considering how much you will actually earn after taxes. Assets received may also be taxed
Speak with an Experienced High Asset Divorce Attorney at The Law Firm for Family Law
The Law Firm for Family Law in Clearwater, Florida are expert strategists who are not afraid to fight aggressively on your behalf. We have the knowledge and experience necessary to ensure that your physical, emotional and financial well-being is maintained during and after the divorce process.
To speak to a high asset divorce attorney at The Law Firm for Family Law today, we invite you to call (727) 531-8737.