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Couple with high assets spends $4.5 million in pre-trial divorce

When most newlyweds set off down the path of married life in Florida, few consider their journey ever ending in divorce. This applies in the case of individuals with high assets as well. If a divorce does occur, there is often even more at stake financially, as is underscored by a recent high net worth divorce case.

A divorce with millions of dollars at stake is currently in the pre-trial process. The individuals represented are two attorneys. Based on the filings, there are many financial issues at hand, including reports of a secret investment fund located overseas and hidden cash-filled envelopes, both of which add up to about $20 million in allegedly missing assets.

The now-retired wife, who specialized in leveraged-lending and bankruptcy law, claims that her husband, a corporate tax, banking and real estate lawyer, used his sophisticated financial cunning to create an elaborate financial scheme to hide as well as usurp control of their joint assets. This purportedly includes an almost $20 million dollar investment in a Luxembourg-based hidden equity fund. The husband claims his wife has no proof, and he has suggested that she has a history of making unfounded and often paranoid accusations.

Before a single day of actual trial, the couple has already spent an estimated $4.5 million in legal fees. As is the norm with many divorce cases between individuals with high assets, the respective parties are often in disagreement as to how their assets should be divided. Those involved in these types of proceedings in Florida typically consult with attorneys who are experienced in handling high net worth divorce cases to not only help them with the legal proceedings but, moreover, ensure that their assets are protected.

Source: jdjournal.com, "Divorce of two attorneys full of claims of missing money", June 11, 2015

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