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Spitzer owes wife big spousal support payout over divorce

| May 1, 2014 | Divorce |

Eliot Spitzer’s ex-wife, Silda Spitzer, stood by his side during his prostitution scandal, but six years later he’s paying an enormous settlement in their divorce settlement.

In 2008, Spitzer was the disgraced governor of New York. His involvement with prostitutes was uncovered during a federal investigation and his wife was at his side as he resigned from the governorship. However, in 2013, Spitzer was photographed leaving his spokeswoman’s apartment. After that, the two announced they would be divorcing.

As a part of the divorce settlement, Spitzer agrees to pay his ex-wife $240,000 a year as a maintenance payment. Additionally, she will receive a $7.5 million settlement over a period of seven years and promised to “use his best effort” to keep his ex-wife in their apartment on Fifth Avenue. The two will retain joint ownership of their upstate farm, which is valued at $5 million.

It’s estimated that Spitzer earned $4 million in 2012. His properties are valued at as much as $46 million.

Spitzer will also pay for an accountant and housekeeper, health insurance and provide her with as much as $100,000 a year so she can continue to donate to charitable causes.

In exchange for this colossal payment, Silda Spitzer signed a confidentiality agreement that promised that she would not discuss anything regarding their marriage, their business or financial interests or any other details about their lives together without receiving permission in writing. Spitzer agreed to the same thing.

The Spitzer situation was certainly a unique one, but couples don’t have to be millionaires like the Spitzers in order to receive spousal support. Each case is calculated individually depending on how many assets a couple has and there’s no one size fits all formula regarding property division, alimony or child support.

Source: Newsmax, “Spitzer’s ex-wife gets massive divorce payout” Melanie Batley, Apr. 28, 2014

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