A divorcing couple had been married for 30 years. The husband, a real estate entrepreneur, brought into the marriage certain real property assets and other investments. During the course of the marriage, the husband created a sizable real estate empire, and several operating entities. Among other items, the wife challenged the validity of a separate property claim, accused the husband of concealing assets in other countries, and quantified the husband’s dissipation of marital funds. The wife valued the marital estate at nearly $100 million and demanded annual spousal support of $2.9 million.
The husband engaged Stout to value the real property and business entities, determine income available for spousal support, and prepare a lifestyle analysis. We also were hired to participate in protracted settlement discussions, and to testify at trial on conclusions reached by our real estate and business valuation experts. In addition, we provided significant document inventory and organization, forensic accounting, and tracing and assessment of separate property claims. Ultimately, our experts valued the estate at approximately $55 million and recommended no spousal support.
After numerous mediation sessions failed, this matter was tried during the course of 10 days. The court ultimately ruled that the husband was to pay approximately $30 million for his wife’s share of the marital estate, much of which was to be paid out during the course of seven years, and no spousal support.