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Asset division judgment may delay high-asset divorce cases

When tensions are high, divorce proceedings can take years to complete. When the battle also involves a considerable amount of money and assets, a lengthy process is not uncommon. Asset division can often cause the most contention, and many New York residents often want to fight for what they feel they deserve as a outcome of their legal proceedings.

One former couple in another state are still awaiting their settlement judgment after a divorce case spanning nearly a decade. Reports stated that the woman filed for divorce in 2009 from her multimillonaire husband, Richard Stephenson, the founder of Cancer Treatment Centers of America. The divorce itself was finalized last year, but the parties are still working to determine what the exact settlement terms may be.

Alicia Stephenson hopes to obtain $400,000 in spousal support, a vehicle that was given to her as a wedding gift and other luxury assets. She believes that this amount would help her continue the lifestyle to which she became accustomed during their marriage. However, the judge presiding over their case has yet to come to a decision regarding the settlement outcomes.

When divorce cases are complicated, coming up with the best asset division terms and other agreements can be a struggle. New York residents who are facing similar scenarios may wish to determine how they could potentially work toward the outcomes they desire in the best manner possible. Consulting with their legal counsel could allow them to gain insight tailored to their specific needs and circumstances in hopes of making the most informed decisions possible.

Source: Chicago Tribune, "Judgment day nears: Ex-wife wants $400K a month, the Porsche and more", Amanda Marrazzo, Aug. 8, 2017

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