Wal-Mart heiress sues husband over business asset discovery

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An heiress to the Wal-Mart fortune has filed for a divorce from her husband. The divorce case and civil lawsuit that followed show just how important it is for Florida residents to have a prenuptial agreement and to know exactly what is going on with their finances during a divorce. This is especially important when business assets are part of the divorce.

The heiress filed for divorce from her husband citing irreconcilable differences. The two have been married since 2004. She will pay the man alimony based on a prenuptial agreement the two signed. Now, the heiress has filed a civil lawsuit that alleges her soon-to-be ex-husband has been stealing money from a company the two own.

The couple purchased a shopping center in 2011. They hired Rosch Company, LLC to complete a renovation and expansion project on the shopping center. Her husband is listed as a vice president of the company’s Florida branch on a business listing from 2008. That Florida branch isn’t on the company’s website and currently has an inactive filing status.

In her civil lawsuit against the man, she claims that he hired a friend as co-manager for the shopping center. She says they both made themselves general managers of the project at the shopping center. She alleges that they aren’t qualified for these contracting positions.

She alleges that her husband is being paid $250,000 annually to manage the shopping center project. On top of that, he is also collecting other fees. She alleges he and his co-manager friend increased their monthly fees to $70,000 from $15,000.

The Wal-Mart heiress is doing what she needs to do to protect herself during the divorce. For couples that have joint business ventures and who ultimately divorce, knowing exactly what is going on with the business is important. Without knowing what was happening financially with the shopping center project, this heiress might have stood to lose a lot of money just because she filed for a divorce from her husband. He allegedly has become greedy despite her agreeing to pay him alimony.

Source: The Malibu Times, “Report: Wal-Mart Heiress Files For Divorce, Claims Husband Funneled Money Through Malibu Shopping Center” Knowles Adkisson, Apr. 22, 2014

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