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Divorce Lawyers

Thyden Gross and Callahan LLPCounselors and Attorneys at Law



Maryland Divorce Legal Crier

News and comments about divorce, child support, child custody, alimony, equitable property distribution, father’s rights, mother’s rights, family law, laws on divorce and other legal information in Maryland.

Posts Tagged ‘Marital Settlement Agreement’

Husband Pays Ex $2.7 Million for Half of Maddoff Fund

Thursday, February 5th, 2009

Steven Simkin is a wealthy real estate lawyer in a big law firm in New York.  He was married to Laura Simkin for over 30 years.  They acquired lots of assets during that time, including  homes in Manhattan and Scarsdale.  They also invested their savings with Bernard Madoff.

They separated in January 2002.  It took them nearly two years to negotiate a marital settlement agreement.  The statements from Madoff said their account was worth $5.4 million.  They agreed the Husband would pay half that amount to the Wife in cash and that the Husband would keep the account.   They had an uncontested divorced in 2006 and Steven paid Laura the $2.7 million.  He kept the Madoff account.

Now that Bernard has admitted to running a Ponzi scheme, it appears the account is worthless.   Laura has the cash and Steven has nothing.

So Steven is suing his ex-wife to recover the money he paid her.   He is asking the court to revise the Agreement to prevent his ex-wife from receiving a windfall.

See Article by Jose Martinez of Daily News

11 Reasons a Divorce Agreement Is Better Than a Divorce Trial

Thursday, March 20th, 2008

When clients tell me they want a Divorce, I usually tell them what they really want is a Divorce Agreement, also called a Separation Agreement or Marital Settlement Agreement, for the following reasons.

1. Residency. Before you can even file a Divorce Complaint, one spouse has to be a resident for a year in Maryland or, if the grounds for Divorce arose in Maryland then one spouse has to be a resident at the time of filing. It’s six months in Virginia and DC. There is no residency requirement for a Divorce Agreement.

2. Grounds. You have to have Grounds, or reasons for a divorce, before you can file a Divorce Complaint. But you can have a Divorce Agreement even if you don’t have grounds for Divorce yet.

3. Separation. No-fault Divorces require a period of Separation first. You can have a Divorce Agreement even if you are still living together.

4. Cost. A Divorce Trial can cost $20,000 or more. You can get a Divorce Agreement for $5,000 or less.

5. Time. It might be a year or more before you have a Divorce Trial, and that’s after you file your Divorce Complaint. You can have a Divorce Agreement today.

6. Trial. The actual Divorce Trial itself can last a day or a couple of weeks. But if you have a Divorce Agreement, then an Uncontested Divorce Hearing takes about 20 minutes.

7. Limitations. A Divorce Court Judge has certain limitations in what he or she can order placed in the Divorce Law by the Legislature. You are not restricted by these Divorce Laws in a Divorce Agreement.

8. Detail. A Divorce Decree might be a page or two and leave many questions unanswered. But a Divorce Agreement can be as long as you want and cover every detail.

9. Control. In a Divorce Trial, a Divorce Judge will make the decisions for you, and he or she is a stranger to your marriage. You can control the outcome with a Divorce Agreement.

10. Privacy. A Divorce Trial is public and some of the information about your divorce is available on the Internet. A Divorce Agreement can be kept confidential.

11. Appeals. Your spouse can appeal a Divorce Trial, but not a Divorce Agreement.

In fact a Divorce Agreement can give you almost everything a Divorce Trial can give you, except an order dividing pension plans (“QDRO”) and the right to remarry. A Divorce Trial is the course of last resort, only when you and your spouse cannot reach a Divorce Agreement.

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