Tuesday, May 8, 2007

The worst case of dividing a business

But the worst situation of dividing a business was one I was involved with on the East coast. The husband owned a large business that he said was worth $6 million and that the wife would get half - or $3 million. We tried to convince her to get it appraised, but husband was threatening to make trouble over the children if she messed with his business and she didn't want that. He did offer to pay her $10,000 per month for 10 years so she could continue her lifestyle without having to work. She thought that was fair. No matter what we said to her, she was firm and she took his offer.

Result? Within 6 months, he sold his business for $67 million! Now you know, he must have been in the middle of negotiations when the divorce took place.

No comments: