Posted on behalf of Jeffrey N. Greenblatt of Joseph, Greenwald & Laake, PA
People in Maryland may have seen recent headlines about the impending divorce of Paige Laurie Dubbert, heiress to a significant portion of the Walton family’s Walmart fortunes. Dubbert recently filed for divorce from her husband of six years, citing irreconcilable differences as the reason for their split, but this standard categorization probably doesn’t even begin to describe the turmoil and financial scandal that contributed to the divorce.
Dubbert’s vast fortunes include real estate, cash and many other business investments that will have to be valued and divided in the divorce. Complex asset division often requires a number of experts, witnesses and financial consultants to ensure that the property is divided according to state law and any other agreements between the spouses. In this case, Dubbert’s husband signed a prenuptial agreement, and apparently under the terms of their prenup she is required to pay him spousal support.
In addition to the complex divorce they will have to work through, Dubbert has also filed a civil suit for the misappropriation of hundreds of thousands of dollars from one of the couple’s business endeavors.
Dubbert and her husband owned and operated a retail center in California, and she claims that her husband and one of his friends used their interest in the center to pay themselves exorbitant salaries and management fees.
The Dubbert divorce and civil suit should provide some interesting fodder for legal experts and tabloid news watchers alike. Generally a complex divorce may require extensive litigation over intricate aspects of property and contract law, which is why people with significant assets always need the counsel of an experienced divorce attorney on their side.
Source: Kansas City Star, “Walmart heiress Paige Laurie Dubbert’s new arena: divorce court,” Lisa Gutierrez, April 22, 2014