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High-net worth divorce ends in settlement, wife gets millions

Often, a long lasting marriage does not only have a wealth of memories, but actual wealth, in the form of assets including property, bank accounts and businesses. Once a marriage turns sour, spouses often scramble to take control of whatever they think is their due. This mad dash is something that St. Charles, Missouri, couples might find completely ridiculous until they find themselves on opposing sides of a high-net worth divorce.

Television commentator and a former state governor, Eliot Spitzer, and his former wife know a thing or two about difficult divorce situations. After 26 years of marriage, the two decided to part ways early this year. Recently, the two agreed on a divorce settlement reportedly awarding Spitzer's wife $7.5 million. She is also keeping the family home, receiving an annual stipend for charitable contributions, living expenses and a new car every five years.

She will also receive life-time spousal support of more than $200,000 yearly. The former governor will pay alimony until his former wife remarries. Spitzer's wife may be remembered by Missouri residents for standing stone-faced by the former governor's side as he admitted to patronizing high-priced prostitutes. The scandal put a damper on Spitzer's political career.

The couple met in college and had three children, all girls. Before the split became official, Spitzer admitted to being in a relationship with a younger, former aide to the New York City mayor.

A high-asset divorce like this one has a tendency to be complex. Besides the number of assets involved, it is also carries the usual emotional baggage that comes with a divorce. A spouse can also face the possibility of a partner not disclosing all assets. Guidance from a St. Charles family law professional can help avoid such problems.

Source: New York Daily News, "Silda Wall Spitzer gets $7.5 million divorce payout," Leslie Larson, April 28, 2014

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