Leonard Booth <[EMAIL PROTECTED]> writes:
Lets hear it for the Judge. It's about time they came to their senses and
do the right thing for the wives.
Len
At 10:42 AM 4/27/1998 -0400, you wrote:
>Kathy E <[EMAIL PROTECTED]> writes:
>
>
>A homemaker has won an equitable distribution award of $45 million, an
>amount that is believed to be the largest ever in New York State.
>
>In making the award, Justice Walter B. Tolub wrote that, through 33
>years of marriage, the homemaker and her husband's "fortunes were
>inseparable."
>
> The decision will be published tomorrow.
>
>Justice Tolub concluded in Goldman v. Goldman, No. 313111/96, that the
>homemaker, Vira H. Goldman, was entitled to half the couple's assets,
>which total approximately $90 million. Ms. Goldman's husband, Robert I.
>Goldman is the chairman and chief executive officer of the Congress
>Finanical Corporation, a lending institution.
>
>Mr. Goldman's lawyer, Lawrence Pollack, of Midgal, Pollack, Rosenkrantz
>& Sherman, said an appeal is likely.
>
>According to Norman S. Sheresky, who represented Ms. Goldman, it is
>common for courts to give a spouse a 50-percent share of a couple's
>assets when the value of their property is in the $10 million range. But
>there has been uncertainty in the matrimonial bar as to whether courts
>would award a 50-percent share for a large estate when that figure
>would generate far more income than necessary to maintain a homemaker's
>lifestyle, said Mr. Sheresky, of Sheresky Aronson & Mayefesky.
>
>In Ms. Goldman's case, a 50-percent share would yield about $2.25
>million in after-tax income, an amount far larger than she needed to
>live on, Mr. Sheresky said. Justice Tolub recognized that fact as well
>in ruling that an award of maintenance was unnecessary in light of "the
>sizeable equitable distribution award and its liquidity."
>
>Justice Tolub cited Ms. Goldman's substantial contributions as a
>homemaker to the marriage. She raised their child, who is now grown,
>without help, entertained without a full-time maid until 1986, and gave
>Mr. Goldman haircuts until they separated in 1996, he noted.
>
>Ms. Goldman also oversaw, in the manner of a general contractor, the
>renovation of the couple's Sutton Place townhouse as well as several
>investment properties on the East End of Long Island and in the
>Catskills. In sum, Justice Tolub wrote, "Ms. Goldman was involved with
>every phase of Mr. Goldman's existence."
>
>The major portion of the couple's assets was in stock that Mr. Goldman
>holds in Congress Financial Corporation, which has an after-tax value of
>$63.5 million, Justice Tolub said. The couple's other significant assets
>included the Sutton Square townhouse, with $3.1 million in equity;
>furniture and furnishings valued at $2.9 million; and bank accounts,
>stocks and other similar investments valued at $7.8 million.
>
>Justice Tolub also rejected Mr. Goldman's argument that the appreciation
>on about 25 percent of his stock holdings in Congress Financial should
>not be considered marital property because it was acquired prior to the
>couple's marriage. That argument, Justice Tolub, wrote "denigrates the
>true genius that is Robert Goldman."
>
>Corestates Bank which acquired a majority interest in Congress Financial
>in 1968 relied heavily on Mr. Goldman's expertise and went to
>substantial lengths to fashion a financial package to keep him with the
>company, Justice Tolub explained.
>
>Alan Mayefsky, of Sheresky Aronson, also represented Ms. Goldman.
>--
>Kathy E
>"I can only please one person a day, today is NOT your day, and tomorrow
>isn't looking too good for you either"
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