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High asset divorce drags on for more than 7 years

Richard Stephenson may not be a household name, but it is likely that Kentucky families have heard of his work. He is the founder of the Cancer Treatment Centers of America, a network of private hospitals that specialize in treating patients with cancers that are difficult to treat. Now, however, he has been consumed with a totally different undertaking as his high asset divorce has dragged on for more than 7 years.

Recently, he and his former wife had yet another court appearance as she is trying to explain why she has requested such a large alimony amount. She has asked the court to approve an estimated $400,000 a month. While the former couple have been separated for several years, they have yet to come to terms over property and asset division as well as the amount of alimony. They did have a prenuptial agreement, but it is unclear how that has played into the divorce proceedings.

The latest court hearing centered on Mrs. Stephenson's claims about assisting her husband in the running of his business as well as the lifestyle she had grown accustomed to while she was married to him. She testified about the trips he took her on before their marriage and then how she was given greater responsibility in the running of his cancer hospitals, including her fund raising efforts. She has also claimed that it was her friendship with a former political leader that led to that man joining her husband's business team as a consultant.

Mrs. Stephenson's legal team have claimed that the money her former husband allegedly gave to a political action group must be included as part of his income when deciding how the marital assets should be divided. It is not clear how much longer this high asset divorce case will take, but for now, Mr. Stephenson claims he cannot afford to pay the alimony that his former spouse has requested. Kentucky residents who are facing their own divorce process may benefit from the advice and guidance that can be provided by a professional experienced in these matters. 

Source: Chicago Tribune, "Almost 8 years into bitter divorce case, hospital founder's ex takes stand", Robert McCoppin, Jan. 11, 2017

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