No matter how long a couple has been married, a divorce is always a possibility. Typically, the longer a couple is married, the more complicated property division can be. One couple has 70 years of property, wealth and emotion to untangle between the two of them following their divorce. Pennsylvania couples contemplating divorce will likely be interested in one of the elderly couple’s current disputes.
Despite nearing the end of their life and 70 years of marriage, the wife filed for divorce. An alleged affair between the husband and the family’s long-time attorney is one of the reasons listed for the break up. Over the years, the couple has amassed a fortune of approximately $550 million between the two of them, including real estate and other property.
Currently, the couple is disputing over their collection of antique shaving mugs. Over the years, they have collected approximately 1,500 mugs. The mugs are estimated to be worth almost $1,000,000 as a set. The wife wants half of the collection for emotional reasons, but the husband is arguing that splitting the collection will reduce the value. He claims that he should be able to keep the entire collection because of the time he spent throughout their marriage acquiring the mugs.
As they dispute the ownership of the antique mug collection, the couple has until the end of the month to obtain appraisals for their vast amount of real estate and other property. Once the appraisals are available, the family court judge will hear arguments on the recommended approach to property division. Pennsylvania couples considering similar high asset divorces could benefit from an experienced family attorney’s advice.
Source: therealdeal.com, “A $550M Palm Beach real estate portfolio is on the line–but first, who gets the mug collection?“, Amanda Rabines, Feb. 22, 2018