The impending divorce of a Florida congressman could be complex, as it involves a large family and millions of dollars of debt. The wife of Rep. Alan Grayson, who represents a district in central Florida, filed for divorce on Jan. 6, citing an “irretrievably broken” marriage.
Grayson and his wife have been married for 23 years. They have five children, one of whom is 18. The rest of them are minors as young as 8, meaning that child support, child custody and visitation rights could all be topics that the parties will likely try to settle. If they cannot, the court may have to issue a ruling.
Another thing that is likely to be a big issue in this divorce is debt. Most of us know that assets like bank accounts and real estate can be included in the marital property that gets split up. But debts can also be divided in a divorce.
Grayson and his wife are reportedly dealing with major financial problems. He was the victim of an allegedly fraudulent investment scheme that cost the family $18 million.
The Grayson’s financial state has clearly taken a hit, and it is not clear how much their marital property is currently worth. But if they still have a great deal of wealth, those assets, along with their debts, can be bargained with so that each side gets an equitable share.
Other people in Florida are also going through divorce right now. They have certain legal rights and obligations that a divorce attorney can explain to them, as they fight for their clients’ interests.
Source: Reuters, “Florida congressman’s wife seeks divorce,” Barbara Liston, Jan. 7, 2014