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July 2014 Archives

Citadel founder files for divorce from wife of 11 years

Atlantic City residents may be interested to learn that the billionaire founder of Citadel, Kenneth C. Griffin, has filed for divorce. Griffin and his wife had a prenuptial agreement dating back to 2003. The 45-year-old founder of the hedge-fund firm stated that irreconcilable differences were behind his decision to divorce his wife of 11 years, Anne Dias Griffin. The couple has three young children, and Griffin has an estimated net worth of $5.6 billion, according to the Bloomberg Billionaire's Index. Kenneth Griffin has asked for joint custody of their three kids.

Mother granted parole five years after sentenced in custody case

A 48-year-old woman was paroled after serving part of a 14-year sentence in a New Jersey prison for taking a custody dispute into her own hands. She was sentenced in 2009 after being found guilty of interference with custody in connection with a 2005 incident.

Dealing with home division in a divorce

For people in New Jersey and across the nation, divorce can present both emotional and financial hardships. A particularly draining challenge for some is that of splitting a home during the property division phase. When a marriage dissolves, joint ownership of a house will generally disappear as well. Rarely, individuals will continue to own a home jointly as an investment property with former spouses.

Avoiding a common financial mistake during divorce

Married couples often put money into a retirement for one individual, or heavily favor one spouse's account assuming that the funds will be shared later in life. In the event of a divorce, some New Jersey residents might assume that money in their partner's account isn't able to be divided, and thus don't fight for a fair share. This is usually an incorrect assumption.

Judge tentatively orders Jamie McCourt to reimburse divorce fees

Atlantic City Dodgers fans might remember when Frank McCourt sold the team. His ex-wife, Jamie McCourt, alleged that he shortchanged the team's value and contested their 2012 divorce settlement agreement. Because the agreement was intended to put an end to divorce litigation, a superior court judge ruled, and said agreement granted the right for a party to ask for reimbursement of attorney's fees if the other party contested, Frank McCourt sought nearly $2 million from his ex-wife. On June 24, the judge ruled in Frank McCourt's favor.

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