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Eliot Spitzer set to pay ex-wife $240,000 a year after divorce

Some Colorado ex-spouses may feel that they are paying too much money to the other party in the form of spousal maintenance. A divorce can cost one or both parties more than just emotional turmoil. When the dust settles and the divorce is final, some people discover they have an uphill battle financially.

No one may know this better than a former East Coast Governor, Eliot Spitzer. The former attorney general turned governor has since divorced his wife, Silda Wall. The couple was married in 1987 and has three grown daughters from their 26-year marriage.

Spitzer was on the way out of the relationship since the time of a prosecution scandal in 2008 that also ruined his political career. According to a recent divorce settlement, the now ex-wife was awarded the couple's Fifth Avenue home and the right to receive a brand new car every five years, along with an allowance for entertaining and $100,000 to give to her favorite charities. Mr. Spitzer was also ordered to pay $240,000 a year to his ex-wife for the rest of her natural life.

Other than child custody, money matters are often the most important issues surrounding any divorce. Colorado courts are bound to make decisions based on the law and the facts presented to them. For this reason and more, putting aside the issues that brought the couple to decide to end the marriage may allow for a more amicable settlement when it comes to property division and spousal maintenance issues. Being able to negotiate their own settlement provides a couple with more control over their individual futures.

Source: nydailynews.com, "Silda Wall Spitzer gets $7.5 million divorce payout", Leslie Larson, April 28, 2014

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