A hold-harmless obligation in favor of a spouse in a divorce agreement can't be discharged in bankruptcy, the Minnesota Court of Appeals has ruled. A couple was indebted to a bank for a business debt. When they divorced, their dissolution included a provision that the husband was awarded all interest and equity in their business but also assumed full responsibility for its debt, holding the wife harmless.
Divorce per separation agreement
Despite the fact he lost millions of dollars as part of the Bernard Madoff fraud scandal, a New York lawyer can't recover any money he paid his wife in their divorce agreement. Steve Simkin paid his ex-wife Laura Blank $6.6 million for her share of marital assets when the couple divorced in July 2006. That amount included half of what the couple believed was in their account with Madoff, roughly $2.7 million.
A preplanned termination of divorce maintenance payments is binding and cannot be used to prove changed circumstances for purposes of modifying support payments, a Court of Appeals judge ruled this week. The parties in Barbara K. Swartz v. Steven A. Johnson both had expected Swartz could be rehabilitated from a horse fall sufficiently enough so she could terminate or reduce some of the maintenance payments her ex-husband had agreed to pay when the couple divorced. As such the parties agreed a portion of the maintenance would terminate in nine years. However, the best laid plans don't always pan out, said Regina K. Bass, Johnson's Kansas City lawyer.
The state can't penalize an institutionalized care applicant who received less than 50 percent of the marital property in his divorce agreement, the New Jersey Appellate Division has ruled. After receiving an epidural injection, a man became a permanent quadriplegic and required intensive medical care. He and his wife decided to obtain a divorce "from bed and board" - a judicial separation without severing the marital bond. She received 63 percent of the marital assets based on her longer life expectancy.
Tax issues in divorce
A contingency fee agreement in a post-divorce action to modify alimony and property division is unenforceable, the Nevada Supreme Court has ruled. A couple split after an 11-year marriage. Their divorce agreement included a promissory note by which the husband purchased the wife's share in their community property, structured so that he paid her interest unless she demanded principal. More than 20 years later, the husband was still paying interest and filed suit against the wife, alleging breach of contract and violation of usury statutes.
A St. Louis attorney who settled previous tax-related allegations with the U.S. Department of Justice won a legal malpractice suit brought by a former client. Philip Kaiser of The Kaiser Law Firm had prepared a prenuptial agreement for Ken Yavitz, and Yavitz sued after his wife argued during divorce proceedings that he had breached the agreement. But jurors found Kaiser followed legal standards for advising his client.
Divorce; financial misconduct; antenuptial agreement; property division; spousal support; attorney fees.
David Hasselhoff and ex-wife Pamela Bach have agreed on post- divorce terms that include joint custody of their teenage daughters, Hasselhoff's attorney has confirmed. The former "Baywatch" star and Bach were divorced in August 2006 after more than 16 years of marriage. After months of negotiating custody and financial arrangements, a deal was struck Friday in Los Angeles, according to attorney Melvin S. Goldsman.
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