Rocky relationship – Finding hidden assets

Actor Sylvester Stallone’s wife Jennifer Flavin has filed for divorce from her husband of 25 years, claiming that he is trying to cheat her in the settlement, having moved assets from their shared marital funds. 


According to the divorce papers, Ms Flavin believes that Mr Stallone “… has engaged in the intentional dissipation, depletion and/or waste of marital assets which has had an adverse economic impact on the marital estate.”


The document goes on to say that her husband “should be enjoined from selling, transferring, assigning, encumbering or dissipating any assets during the pendency of the proceedings.”


Within days of news of the divorce becoming public, the actor shared a series of family photographs, which included pictures of Ms Flavin, to celebrate their daughter, Sophia’s, birthday. 


His wife wrote that “while we will no longer be married…”, she would always cherish the time they spent together, pointing, perhaps to an amicable settlement.


Meanwhile, another very wealthy couple in the middle of a separation, Rupert Murdoch and Jerry Hall have also agreed to “remain good friends”, with Ms Hall cancelling the divorce petition she had filed to end their six-year marriage in the Los Angeles Superior Court. 


Instead, she is understood to have received a generous divorce settlement, which will see her receiving more than £10 million a year for the rest of her life and sharing in £250 million worth of properties across the globe.


Roger Isaacs, Forensic Partner at Milsted Langdon, said: “High-value divorces and separations often involve complex financial arrangements, and it is not uncommon for one or both parties to try to hide assets from his or her spouse. 


“In doing so, they often complicate matters and fuel feelings of mistrust and animosity that inevitably cause professional fees to skyrocket.


If matters can be resolved amicably, it will always be easier and cheaper for the parties because in a bitter and hard-fought divorce the only winners and the lawyers and forensic accountants.

Despite our reputation to the contrary, the vast majority of advisers in family proceedings be they accountants, solicitors or barristers, try they utmost to help their clients avoid expensive trials and find a way to settle out of court.”

Posted in Blog, The Forensic Blog.