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Divorce details of NASCAR chairman made public

In most divorce settlements, exes must divvy up and decide who gets to keep the family home, car(s) and personal possessions. Additionally, financial assets are often equally divided including monies held in retirement accounts, pensions and investments. For most Americans, the divorce settlement process is fairly straightforward and largely dictated by state laws. In divorces involving couples of considerable wealth, the divorce settlement process can be extremely complex, contentious and time-consuming.

The details of one high-asset divorce settlement were recently made public after a court ordered that the divorce case of NASCAR chairman Brian France be unsealed. According to the recently released documents, France's wealth is estimated to be around $554 million. Included in France's list of assets is an annual income of $9.1 million, $218 million in stock, eight homes and condos, two airplanes and an 84-foot luxury yacht.

France's divorce from his two-time ex-wife Megan was highly contentious and riddled with allegations from both spouses. In divorce papers, Megan France accused her ex-husband of being verbally abusive and alienating the couple's children. Additionally she asserts he was constantly monitoring her. France contends his ex-wife is a shopaholic.

The couple's marriage appeared to not only be filled with excess and extravagance, but also conflict. The two originally married in Sep. 2001 and divorced three years later. Less than a year after divorcing, however, the couple remarried and welcomed twins the following year. The couple's separation agreement stipulates that France pay his ex-wife a total settlement sum of $9 million. In addition, a judge ordered France to pay his ex-wife monthly child and spousal support payments totalling $42,000.

 

Source: USA Today, "Divorce case reveals details of Brian France's finances," May 8, 2013

Lorrie J. Zahodnic

"I will hold you up until you can stand on your own two feet."

Lorrie J. Zahodnic, P.C. has provided skilled and compassionate legal guidance to Michiganders in family law matters for over 20 years.

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