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New York real estate mogul, wife told to expedite divorce

A New York real estate mogul is going public about his divorce from his wife of nearly six decades. The developer, 79-year-old Harry Macklowe, has been joking with reporters about the split. He says that he's offered his wife Linda, also 79, $1 billion to finalize the divorce. He says that this is half of his fortune.

As soon as he's free to do so, Macklowe says that he will marry his French fiancee -- a 62-year-old woman who is the president of a museum.

Mrs. Macklowe, however, has not yet accepted the settlement proposed by her husband, whose properties include 432 Park Avenue, which is an upscale condominium complex standing nearly 1,400 feet high. Mrs. Macklowe, who is one of the trustees of the Guggenheim Foundation, filed for divorce last summer after reportedly learning that her husband's girlfriend was living in another Park Avenue property that he owns near the couple's home at the Plaza Hotel.

Despite Mr. Macklowe's levity about the situation, his wife is reportedly asking for details of just exactly how much her husband and his business are worth. The Manhattan Supreme Court judge who is hearing the case has asked both Macklowes to "move this forward expeditiously."

While $1 billion certainly seems like an ample amount of money, spouses have the right to seek what they consider a fair settlement given their estranged partner's wealth. Determining just what assets a person holds may require the help of a forensic accountant. New York family law attorneys can provide guidance on what financial professionals can provide assistance.

Source: MarketWatch, "Messy divorce looks set to cost New York developer at least $1 billion," Julia Marsh, New York Post, April 05, 2017

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