Maryland baseball fans may be interested to learn that a judge ordered Frank McCourt's former wife to pay approximately $1.9 million in legal fees on June 24. According to the report, the decision was handed down after McCourt's wife was unsuccessful in contesting the former couple's divorce settlement.
McCourt reportedly sold the Dodgers in 2012 for more than $2 billion. Later, McCourt's former wife filed a lawsuit alleging that her husband shortchanged her in the sale, but the case was rejected in September. McCourt's attorneys claimed that they were owed nearly $2 million in legal fees for McCourt's defense against the claims, which they argued should be paid by the former wife. However, attorneys for the former wife stated that the amount of legal fees was excessive. The former wife's attorneys reportedly had 15 days as of the ruling to file any objections to the ruling. It was not reported if her attorneys planned to file any objections or if the former wife intended to pay the legal fees.
The judge stated that the terms of the divorce settlement were carefully considered and both parties clearly intended for the agreement to be the end of any litigation. In 2012, the former wife was awarded $131 million and several homes that had been purchased during the duration of their marriage, which lasted almost 30 years.
Those who are in the process of going through a high-asset divorce may be feeling both financial and emotional stress. When there is a large number of assets on the line, an attorney may be able to help their client negotiate a settlement that is agreeable for both parties. In some cases, the attorney may be able to help their client estimate what certain properties are worth.
Source: ABC News, "Judge Favors Frank McCourt in Divorce Fees Fight", Anthony McCartney, June 26, 2014