According to this recent Daily Mail article , Athelstan Whaley, a millionaire hotel tycoon will be left practically penniless by a UK divorce court's order. Whaley claims that the main source of his wealth, a family trust, cannot be accessed to pay for his divorce settlement, despite the fact that the Judge took the trust into account when calculating the divorce payout. In order to pay the settlement, he will have to use all of his liquid assets including selling his house, and claims that this will make him homeless. While it's hard to feel bad for a millionaire, a family trust could put any divorcing spouse in this position. In Massachusetts the division of marital property in a divorce case is controlled by M.G.L. Chapter 208 Section 34 , which states in pertinent part: "In addition to or in lieu of a judgment to pay alimony, the court may assign to either husband or wife all or any part of the estate of the other, including but not limited to, all vested and no...
Read about mediation, collaborative law, and divorce in Massachusetts, with content from Skylark Law & Mediation PC, Gray Jay Endeavors LLC, and Dispute Resolution Training Associates.
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