No matter what stage of the divorce a couple is in, difficulties and complexities can occur throughout the process. One factor that could potentially lengthen the process of bring the separated couple back to court following their dissolution is property. Disputes about property division and separating marital assets could cause several disputes.
One Tennessee resident — an interior designer and former singer — claims that her ex-husband, an energy mogul, misled her about the value of his energy company. The Tennessee couple divorced in late 2011 after 16 years of marriage. Her ex-husband claimed that the Eco-Energy company he owned was worth $15 millions and provided his now ex-wife with $6.8 million, which was her half of the company.
It was recently discovered that the company was worth $100 million dollars a few months following the completion of their divorce. It was also uncovered that her ex-husband illegally paid his attorney $50,000 to speed up the divorce process. The woman now wants the divorce be scrapped and a new one re-drawn in response to the new information. She also claims that her and her three children were cheated out of millions of dollars that they are entitled to.
Assets such as business assets can be very valuable marital property. The division of these assets is usually laid out in documents made prior to or during the marriage, but these types of assets are not always properly divided. Couples who are unable to itemize their personal and marital property mutually and amicably may require a judge to determine ownership.
The divorce process can be emotional and time consuming, but some separated couples need to go back to court to reconfigure their agreements. When this happens the legal battles can get complicated.
Source: Mail Online, “Ex-wife sues her energy tycoon husband for ‘lying to her about $15m value of firm he then sold for $100m just days after their rushed divorce’,” Lydia Warren, Aug. 05, 2013