Man sued by ex-wife for hiding money during divorce

As circumstances change or new information is brought to light about the finances of a former spouse in Morris County, New Jersey, it may be necessary to amend the terms of the divorce agreement. This is true no matter how much time has passed between the divorce and when the circumstances change.

A woman is suing her ex-husband, alleging that he hid millions of dollars from her when they divorced in 1990. The two married in 1979 and had two children together. When they divorced over a decade later, the woman received $1 million and the couple’s 28-room Manhattan apartment which was worth $3.8 million at the time. The husband was to pay for the children’s private schooling and tutoring plus their extracurricular activities and summer camp. He also agreed to pay child support for each child in the amount of $1,115 a month.

Just one year later, the wife said she was having financial difficulties and alleged that her ex-husband had ripped her off when he hid substantial income from her by filing a separate income tax statement. An agreement on increased child support was eventually reached.

In 2006, the woman found out that her ex-husband had received a settlement worth $5.5 million while they were married. Since he never told her about this settlement, she filed a lawsuit against him in 2009 in which she alleged that she had been ripped off in the divorce settlement. She is suing him for breach of fiduciary duty and fraud.

If you are going through a divorce and suspect your spouse is hiding financial information from you, it is important that you speak with an experienced family law attorney who will work with you to uncover any hidden funds and help you get a fair settlement.

Source: The Wall Street Journal, “Steve Cohen’s ex-wife sues him, offers a glimpse of how the super-rich live,” Christina Rexrode, Jan. 27, 2014