Posted on behalf of Jeffrey N. Greenblatt of Joseph, Greenwald & Laake, PA
Sports fans in Maryland know Dwyane Wade as the star guard on the NBA champion Miami Heat, but recently his personal life became the focus of national news stories. Wade has been embroiled in a dramatic, high asset divorce from his wife since 2007, when the couple originally separated.
That divorce, which has been simmering for some six years, has been a major source of scandal for Wade and his wife, Siohvaughn Funches-Wade, but Wade hopes that a recent $5 million divorce settlement will calm things for the foreseeable future. Wade was granted sole custody of the couple’s two sons in 2011, but Funches-Wade hasn’t left things alone since that time.
In a headline-grabbing move, Funches-Wade took to the streets of Chicago, claiming to be homeless and that Wade hasn’t paid her the $25,000 a month in spousal support that was originally agreed to in the divorce settlement. According to sources, Wade has denied this allegation, and is willing to pay up in order to keep further divorce disputes from interfering in his professional and personal life. In addition to the $5 million in cash Wade has agreed to pay, Funches-Wade also received the ex-couple’s Chicago estate and four cars. As part of the settlement, each party has been required to sign a non-disparagement provision, in which both sides agree to refrain from slandering each other, and their families, any further.
In a high asset divorce, substantial property interests can sometimes lead to a prolonged dispute over marital property and other assets. In this case, it took six years to bring this messy divorce to an end, and Funches-Wade allegedly went through 16 different attorneys during this time.
When it comes to divorce, it’s important to keep the ultimate goal in focus and hire the right family law attorney the first, and only, time. People in Maryland should always consult an experienced divorce attorney to protect their property rights in a high asset divorce.
Source: CBS Sports “Dwyane Wade to pay ex-wife $5 million in divorce settlement,” Royce Young, July 23, 2013