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Details of Spitzer divorce agreement revealed

| May 1, 2014 | Alimony |

The ex-wife of Eliot Spitzer is to receive a sizable amount of money in their finalized divorce settlement. According to a post-nuptial agreement, Silda Spitzer is to receive $7.5 million in the settlement. She will also have occupancy rights to their Fifth Avenue residence, receive a new automobile every five years, alimony income and other benefits. The sums associated with the agreement may seem exorbitant to the average Illinois resident; however, high asset break-ups can be unique when it comes to the stipulations found in divorce agreements.

As far as additional benefits go, Eliot Spitzer’s ex-wife is set to receive a paid housekeeper for part-time assistance in her home and money for entertainment and other types of activities. On top of that, she will be paid a set amount of $240,000 annually until the end of her life or until she gets married again. Eliot Spitzer will further be required to pay her $100,000 as an annual allowance to give to charities.

While the amount Silda is to receive may appear high, it might not be out of scope with the level of the Eliot and Silda Spitzer’s wealth. Eliot Spitzer’s assets are valued at approximately $46 million. Also in 2012, he allegedly earned almost $4.3 million in comparison to his ex-wife’s meager earnings of $112,000. Due to this disparity, Eliot Spitzer would be considered the “moneyed” spouse in this case; therefore, it was more likely that he would be required to pay his wife spousal support and provide her with other benefits.

It is important for anyone going through divorce proceedings to remember that an attitude of peace and reconciliation will go a long way during the dissolution of a marriage. Wherever possible, if individuals can reach out of court agreements with regard to asset division, alimony, child custody and child support, the divorce process will be less stressful and an easier experience for everyone involved. Still, some divorce disputes require litigation to resolve and in such situations, courts strive to find the most equitable solution possible for both sides of the disagreement.

Source: US News, “Report: Spitzer Pays More Than $7.5M in Prostitution-Related Expenses” Steven Nelson, Apr. 28, 2014

View the profile of Illinois Family Law Attorney Alex Fawell
DCBA | DuPAGE County Bar Association Member
Lead Counsel Rated Attorney