Millions of dollars at stake in high asset Brandes divorce

By March 31, 2011Divorce

On behalf of The Marks Law Firm, L.L.C. posted in Divorce on Thursday, March 31, 2011

The grand majority of couples seeking a divorce will argue about how to divide their mutual property. Divorce asset negotiations can determine an individual’s future financial stability, so it is very important to ensure that the ex-partners shared property is divided fairly.

For most families, asset division negotiations involve who should receive things such as the couple’s house, car, or antique furniture. As all of the property acquired over the course of a couple’s married life is laid on the table, the combined value can add up to a good chunk of change. Since such large amounts of money hang in the balance, negotiations often become tension-filled affairs. This degree of tension increases significantly during a high asset divorce when even larger amounts of money are at stake, and has risen through the roof in the case of one of America’s wealthiest couples dividing billions of dollars in assets.

Charles and Linda Brandes were one of the US’s power couples for 18 years, until their divorce in the summer of 2005. Since then, the ex-spouses have spent years in court attempting to separate their estates. The negotiations drew the former couple into a courtroom last week, as Linda Brandes filed for an increase in the amount of spousal support she is presently set to receive from Charles.

Linda Brandes’ attorneys originally arranged a $500,000 dollar monthly spousal support settlement for their client, but now believe that the amount should be increased to $750,000 dollars a month. The former Mrs. Brandes justified her request by claiming that Charles built 11 percent of his successful business, Brandes Investment Partners, during their marriage.

If Linda can prove that her support was vital in allowing her husband’s company to grow so successfully during their time together, those profits could be considered communal property. In this case, Linda could be entitled to well over an additional hundred million dollars from her ex-husband’s account.

The court finished hearing testimony in the case last week. However, the couple still faces several rounds of arguments, meaning that a verdict is not likely to arrive any earlier than next fall.

Source: Sign On San Diego, “Brandes v. Brandes: testimony ends, but no end in sight.” Peter Rowe, 23 March 2011