McCourts reach possible settlement in ongoing Divorce

In the ongoing divorce of the McCourts played out in Los Angeles Superior Court, and involving the fate of the Los Angeles Dodgers baseball team, a possible settlement has been reached over ownership of the baseball team, as reported by the LA Times. The settlement depends on a Fox television contract being finalized, and also a one day trial for the Judge to decide if the Dodgers are a community asset that would be split 50/50.

If the Dodgers are determined to be community property, then the team would probably be sold, but even if the Judge rules that the team is Frank McCourt’s own property, the settlement agreement would still give his wife $100 million as reported by the Times. Not too shabby.

As I have previously posted, this whole affair would have been avoided if a valid marital agreement had been put in place, instead of the apparently rushed agreement that was found to unenforceable last year. Lesson learned? If you don’t want to share it in California, then take the time and spend the money to make sure you have a valid pre-marital or marital agreement.

 

UPDATE: Bud Selig killed the television deal part of the settlement, so the battle continues.

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About thomasmaclean

Attorney based in Burbank, CA.
This entry was posted in Community Property, Divorce, Marital Agreements and tagged , , , , , , , , , . Bookmark the permalink.

2 Responses to McCourts reach possible settlement in ongoing Divorce

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