Dodgers owner’s high net-worth divorce agreement final?

Seven years ago, Frank and Jamie McCourt moved from Massachusetts to California to buy the Los Angeles Dodgers. At the time, of course, they did not know that a divorce was in their future. But it was. For months now, the couple has been struggling to hammer out the terms of their divorce settlement. On Oct. 17, they finally announced they had reached a settlement in their high net-worth divorce case. Under the agreement, Jamie McCourt will now support a media rights deal for the Dodgers which some estimate could be worth up to $3 billion. At one time, she opposed such a deal. The exact terms of the agreement have not been released, but it is estimated that she could get somewhere in the neighborhood of $130 million. A Los Angeles judge must still sign off on the divorce agreement in order for it to be binding and complete. One reason this high net-worth divorce has taken so long is because it was placed on hold so a Delaware bankruptcy court could take up the financial fate of the Dodgers. Motions on that case began October 31. Major League Baseball wants permission from the bankruptcy judge to file a reorganization plan for the team that would require McCourt to sell the team. This particular divorce illustrates how complex a divorce can become when there are high-net value assets to be considered. Couples who have real estate holdings, stock options, and other valuable marital property often are best served when

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New Massachusetts alimony law places restrictions time periods

On September 26, the Governor of Massachusetts signed a new law setting limits on alimony and providing guidelines for its determination in divorce proceedings. Previously, judges were permitted to award lifetime alimony regardless of the length of the marriage, a practice that was at odds with most other states. Indeed, the payments were often ordered to continue even after retirement and without regard to circumstances where the former spouse was living with a new partner. The new law significantly caps alimony by placing limits on the number of years a former spouse can receive payments, based on the length of the marriage. A marriage of five years or less, for instance, could result in an award of alimony up to half of the length of time the couple were actually married. At the other end of the spectrum, a marriage lasting 15 to 20 years could result in an award of alimony of up to 80 percent of the time married. The law will now end alimony payments upon retirement for most cases, a significant deviation from the old practice which prevented many from entering into retirement at all. Supporters of the new limits feel that the changes provide a safeguard for many men who are unable to modify their spousal support and ultimately end up in financial ruin. Observers note that many other states do not have specific time limit guidelines for alimony and suggest the Massachusetts law could instigate a national trend. Some believe the law could be

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Another high net-worth divorce on the horzion

Divorce can be a complex affair, in Massachusetts and across the country. Actress Laurie Metcalf and her actor-husband, Matt Roth are about to confront a number of important matrimonial issues between them. Roth filed for divorce on September 12 after a six-year marriage, citing irreconcilable differences. One important issue in this high net-worth divorce may be child custody, as Roth has requested joint physical and legal custody of the couple’s three children. The former “Roseanne” star has many movie credits, as well as three Emmy Awards. She has also appeared on “The Big Bang Theory” and “Desperate Housewives.” Roth has most recently starred in the new television series “Private Practice,” with other notable appearances to his name as well. Although it is always unfortunate to hear about a couple seeking a divorce, it should also be put into perspective. Current statistics continue to show that more than half of all marriages result in divorce, and there is no shame in ending a broken marriage. There are times when a couple simply realizes they cannot live together any longer. Instead of living together in dissonance, they choose to make the move towards a formal dissolution of their marriage and a division of their marital property. Often, high net worth divorces make headlines, as they involve extraordinary sums of money or property. A Massachusetts attorney experienced in all aspects of divorce law, including complex property division and tax considerations, may assist in protecting legal rights and fighting for a fair and equitable

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Complex property division at core of high net-worth divorce

There are many instances of divorce where complex property division issues arise. This is especially the case where the individuals involved are part of a high-profile couple. Regardless of whether the divorce is filed in Massachusetts or anywhere else, the fact is that the more assets there are, the greater the disputes and the more complex the property division issues. A recent example comes from the pending divorce of Frank and Jamie McCourt. Frank McCourt is the owner of the Los Angeles Dodgers. He claims sole ownership of the team, although his wife says it is community property and as such, she believes she is entitled to half its value. That issue is yet to be decided, and the ultimate question of the outlook of the Dodgers will have to await a separate bankruptcy determination regarding the baseball franchise. A prolonged battle concerning the complex property division disputes is anticipated and a divorce trial is expected to start in the spring or summer of 2012. The lawyers have highlighted that, apart from complex property division matters, including two properties in Massachusetts, permanent spousal support and ownership of the baseball franchise remain major stumbling blocks. And all issues concerning the Dodgers hark back to the pending bankruptcy proceedings. This adds to the complexity of the matters at hand with divorce and complex property division, as well as bankruptcy issues overlapping one another. While Frank McCourt hopes to retain control of ownership of the Dodgers, that decision may be taken out of

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Divorce can start with non-communication in the home

As with a lot of things in life, communication is one of the keys to a lasting marriage. That tidbit is more than likely not a revelation to couples. Still, most married couples will admit it is not always easy to practice over the long haul. Some marriage analysts believe that tedium can be the ultimate demise of many marriages right here in greater Boston as well as throughout the country. Celebrity high net-worth divorce scandals offer marital diversions on television as well as the tabloids. Rather than confront marital problems at home, some spouses divert their stress by focusing on the sensationalized struggles of others. Some celebrities are able to navigate the landscape of a high net-worth divorce with grace and a sense of calm (Jennifer Lopez and Marc Anthony, for example). Despite the best of intentions, others become embroiled in often expensive and protracted proceedings (Frank McCourt of the Los Angeles). While the financial wrangling may be more complicated in a celebrity divorce, the simple fact is a well-known person confronts the same basic emotional and legal issues that affect all people who have decided to end their marriage. And that may be part of the reason they seem so fascinating. As a matter of fact, it is speculated by marriage researcher, Paul Amato that as many as 60 percent of the nation’s divorces are from what are considered “low conflict” marriages. Often, many divorces occur simply because couples stop paying attention to one another. The technology era

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Father’s rights claims heard by Supreme Judicial Court

Father’s rights issues continue to be pressed in Boston and Massachusetts courts, particularly in the area of child custody and support. Recently, a constitutional challenge was made to the state child support guidelines, which were adopted in 2009. The basis of the challenge was that the guidelines were promulgated by the state judiciary behind closed doors, when their enactment should be solely within the province of the state legislature. The father’s rights group which filed the lawsuit also argued that the guidelines unfairly penalize the children of a subsequent marriage by providing for excessive payments for children of a prior relationship, thus leaving little for the basic needs of later-born children. The lawsuit sought a declaratory judgment, which is a court order spelling out the rights, duties and obligations of one or more parties without specifically ordering any action to be taken. Earlier this month, the Supreme Judicial Court of Massachusetts upheld the child support guidelines unanimously, concluding the legislature had specifically granted authority to the judiciary to set child support guidelines in 1986. It held that declaratory judgments are not permissible under the law in actions against the judiciary. The court further held that the issue was not one to be addressed on a statewide basis. Rather, the litigants to any child support proceeding have not only the right to be heard, but also the right to make constitutional arguments in the proceedings to which they are a party. The court observed that parties to those child support proceedings

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Child custody should not be a battle

Oftentimes in Massachusetts, father’s rights are overlooked or taken for granted. But most people agree that it is equally important that both parents have a solid influence on the child’s life, despite a divorce. For many, child custody is shared between both parents, with one parent taking on the role of the custodial or primary parent. Still, when it comes to father’s rights, there are many things divorced couples can do to ensure they maintain the best interests of the child through the involvement of both parents. No matter which guardian is the custodial parent, it is important for both sides to work together despite the divorce. Getting a divorce is not something to be ashamed of, but it is important not to use the children as pawns or tools to inflict pain on the ex-partner. Parents will be best served to do their best to maintain a mutual agreement in terms of both the mother’s and the father’s rights. It has been said by many experts that a solid routine is beneficial to children regardless of where they reside. If a custody agreement for parents’ rights includes weekly visitation, it is also considered to be helpful to establish a predictable routine that includes holidays and vacations. It is also imperative that the parents establish and maintain a rule set that coincides with both homes as best as can be done. This allows for open communication when serious issues arise, such as problems at school — without disparity between ‘how

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Could a postnuptial agreement actually save your marriage?

One important tool that is often forgotten about when it comes to family law is the postnuptial agreement. This week, the Huffington Post featured an interesting article explaining how a postnuptial agreement can actually help many couples whose marriages are on the rocks. Postnuptial agreements are like prenuptial agreements in that they are both contracts that spell out what would happen in the case of a divorce, only postnuptial agreements are entered into after the couple has been married and prenuptial agreements are entered into before the marriage. The article gave the scenario of a couple who had been fighting over financial issues and was hastily considering a divorce. The wife, worried and anxious about where a divorce would leave her, went to a local family law attorney for advice. The attorney told the woman that divorce was not the couple’s only option and that there were alternatives available like filing for legal separation or executing a postnuptial agreement. The woman talked to her husband and soon they agreed that a postnuptial agreement was right for them. She said the agreement they reached gave them both peace of mind knowing exactly what would occur should they choose to split, and also helped them to address the disagreements regarding finances that they were having. Many people overlook postnuptial agreements as an effective tool in a family law attorney’s toolbox. Not only do they allow the couple to plan for divorce before the emotions rise, they are also a way to potentially

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