Nancy L. Sponseller

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Eliot Spitzer’s ex-wife wins millions in divorce settlement

On behalf of Law Office of Nancy L. Sponseller posted on Friday, May 2, 2014.

Citizens in Ohio and throughout the nation have been following developments in the high-profile divorce of former New York governor Eliot Spitzer. On April 28, it was revealed that Spitzer will have to pay his ex-wife Silda $7.5 million under the terms of their divorce settlement agreement.

Silda is best remembered as the long-suffering wife who did not abandon her marriage despite revelations of her husband’s involvement in a prostitution ring. Those revelations ultimately forced his resignation as governor of New York in 2008, after which the marriage still survived. But in January 2014, the couple finally filed for divorce, and their settlement has recently been publicized.

Under the terms of the agreement, Silda will receive $7.5 million as well as the family home on Fifth Avenue in New York. She will also be paid spousal maintenance in the amount of $240,000 per year as long as she does not remarry, $100,000 per year to make charitable contributions and additional sums to cover her living expenses and medical care. The Spitzers, who were married in 1987, have three grown daughters.

The Spitzer divorce clearly illustrates the advantages of having a postnuptial or prenuptial agreement. Yet most couples fail to plan ahead, and at the end of a marriage, it is too late. That’s when emotions get in the way, communication breaks down and a court ends up imposing a division of property as the judge sees fit. For those who are considering marriage or have recently married, an attorney may explain the benefits of a pre- or postnuptial agreement that allows them to decide who gets what in the event a divorce must someday become a reality.

Source: The Huffington Post, “Eliot Spitzer To Pay Ex-Wife Silda Millions In Divorce Settlement“, Brittany Wong , April 28, 2014