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The son of the world’s second wealthiest hedge fund manager, George Soros, filed for divorce in 2014 after 22 years of marriage. A property division trial resulted from a dispute over substantial amounts of money.
According to Page Six , Soros’ son, Robert, deposited $21 million into his personal accounts while his wife, Melissa, struggled with breast cancer. Melissa testified that he deposited $21 million in jointly filed tax refunds. She explained that during her extensive rounds of chemo treatments for breast cancer, she also experienced pneumonia, broke her ankle and had problems with insomnia. Prior to her illness she stayed on top of finances, making sure they weren’t overcharged and even caught a hardware store employee who charged their account for furnishings made to the employee’s home. After she became ill, her focus shifted to recovering, and she couldn’t give household finances the same degree of attention. Between 2010 and 2011, Robert Soros deposited four checks, totaling $21M, into his personal accounts. He maintained that he and his wife had an oral agreement that he would retain the refunds because he paid the taxes.
They went to trial solely over how to divide the $21 million in tax refunds on jointly filed returns. They’ve already arrived at an agreement that Melissa will keep the $21 million Greenwich Village town house. Robert’s net worth is estimated at $350 million.
New York Property Division laws dictate equitable division, which means each spouse owns the income he or she earns during the marriage and has rights to property that is in his or her name alone. Judges determine assets division, which may or may not be exactly equal. (Findlaw)
The jointly filed return and arriving at a fair and equitable property division are what complicate this matter.
If you’re struggling with property division disagreements, consult with attorney Chris Palermo. Chris is an experienced Long Island divorce lawyer who has helped numerous clients overcome the challenges involved with divorce.
Million $ Divorce | Million Dollar Divorce Attorney main office located in Hauppauge, Long Island, NY.