Those who have amassed considerable assets during their lifetime may have concerns about entering into a marriage. In the event that the relationship becomes unsustainable, it is possible that an individual could face significant losses if he or she is ordered to pay a former spouse in the aftermath of a high asset divorce. Florida residents who are preparing for a dissolution may have many concerns about protecting their financial well-being in the future.
According to one former wife’s account, her ex-husband elected to remain in jail rather than pay an $18 million settlement. The 82-year-old man reportedly fled the country after the divorce judgement was announced in an apparent effort to avoid paying his ex-wife. He was arrested after he had returned to the country for a relative’s college graduation. He has been in jail for the past several months after alleging that he does not have the financial resources to either post bail or pay his former wife.
The ex-wife claimed that her husband began moving his assets into overseas accounts shortly after agreeing to her demands for a divorce in 2012. She further alleges that he maintains several bank accounts in a variety of locations around the world and chooses to remain in custody to spite her. The ex-husband claims that he lost the majority of his assets through failed banks and other unexpected events. He asserts that his remaining $5 million is located in an account that he cannot access due to his incarceration.
His attorneys have been unable to secure his release even though his poor health and advanced age make him a poor flight risk. A judge disagrees and has refused his release until he arranges for his ex-wife to receive the amount she is due. Florida residents who are struggling to resolve the issues involved in their own high asset divorce may be best served by obtaining the assistance of a skilled family law attorney.