While divorce may be unavoidable or simply in the best interest of those involved, having the divorce process last longer than the actual marriage may not be pleasant for either side. For an NBA star, Dwayne Wade, and his ex-wife, a six year divorce battle may have finally come to an end. The couple was married in 2002, divorced in 2007 and they have just entered into an agreement with each other regarding assets and money. Maryland couples may want to make note of the provisions to their most recent agreement.
The couple was back in court after much publicized appearances by Wade’s ex-wife on the streets proclaiming herself to be homeless and destitute. Wade has countered the public display by saying he has been paying $25,000 a month in spousal support and also paying for her attorneys during this process, the taxes and mortgage and the cost of four cars for his ex-wife. She contends he has not paid her. During the divorce disputes, Wade was also given sole custody of the couple’s two children.
The agreement the two have reached now has Wade paying his ex-wife a $5 million settlement. He has also given her the house and four cars he has been paying for. The agreement also includes a proclamation that the two can’t make disparaging remarks about each other.
While most divorce agreements are reached in less time, it can still take awhile when there is a great deal of assets or money involved. Maryland couples in the midst of divorce may have to revisit previous agreements or make modifications to original agreements. It is vital for both parties to know their rights and work with professionals to ensure the fairest agreement possible is reached.
Source: cbssports.com, ” Dwyane Wade to pay ex-wife $5 million in divorce settlement,” July 23, 2013