Multimillion-Dollar Illinois Divorce May Be Nearing End After 7 Years

The 25-year marriage of Cancer Treatment Centers of America founder Richard Stephenson and his wife Alicia was formally dissolved at the beginning of the year — seven years after the former model filed for divorce. However, the two, who married in 1991, are still working to reach a final settlement.

The two sides’ attorneys recently told the northern Illinois judge in the case that they’d reached a “trial stipulation.” However, there is still work to be done before they meet again in court in May.

Despite Prenup, Issues Still Need Resolution

The judge has upheld the couple’s prenuptial agreement. However, Alicia’s attorney said recently that it “doesn’t immediately resolve all issues.” The two sides are still working to divide their considerable assets and agree on how much the 51-year-old former Mrs. Stephenson will receive in monthly maintenance payments to continue the lifestyle to which she became accustomed.

The judge determined that Alicia’s monthly support should be $47,000 while negotiations continued. Her attorney didn’t divulge how much her client has actually been receiving in the years since she filed for divorce.

Fighting to Maintain a Lifestyle

The couple’s lifestyle while they were married included multiple homes, private jets and luxury cars. Their monthly spending totaled $500,000 to $600,000, according to her attorney. In previous court filings, Alicia said she requested monthly support of $150,000.

The two sides apparently aren’t even in agreement on how close to a settlement they are. The 76-year-old businessman did not appear in court for the most recent hearing. However, his attorney called settlement prospects “far greater now than they ever were.” His wife’s attorney says that the other side is dragging things out, and that the informal agreement reached that day was one that her client “could have entered into five years ago.”

Obviously the longer that divorce proceedings go on, the more expensive and stressful they are for everyone. When there are children involved, that’s all the more reason to settle things as efficiently and amicably as possible.

The length and contentiousness of the proceedings isn’t always related to the value of the amount of assets at stake. There are factors unique to each situation in play. Experienced family law attorneys can help their clients work toward a fair settlement in a timely manner so that they can get on with the next stage of their lives.

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