McCourt Divorce: Liquidating a Community Asset to Maintain the Status Quo
It is not uncommon for the court to order a liquidation of a community property asset and provide said funds to the supported spouse or apportion it between the parties. Many times a hearing to determine how much support one party pays to the other could be delayed until the forensic accountant finalizes the cash flow report available for support, among other reasons.
As an example, it was reported today that Jamie McCourt will receive $1.4 million to cover her expenses until next month's hearing on spousal support. The $1.4 million comes from the liquidation of an investment account in the names of Frank and Jamie McCourt. The agreement also provides Jamie McCourt with access to additional funds -- in an unspecified amount -- from the couple's joint investments.
When Frank and Jamie McCourt filed for divorce in October, she asked for $320,967 per month if she were reinstated as the Dodgers' chief executive officer and $487,634 per month if she were not. The court denied her request for immediate reinstatement.
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