Tuesday, March 18, 2008

Heather Mills Is A Wealthy Woman After Divorce Settlement Is Reached

Speaking on the steps of the High Court in London Monday, Heather Mills declared herself "so, so happy" with her nearly $50 million divorce settlement from Paul McCartney. The ex-wife of the former Beatle said she was "just glad it was over," referring to the long-running and often acrimonious split.

Paul upon exiting the court in an indifferent mood, merely said to waiting reporters, "All will be revealed." Heather explained: "I am standing here because Paul is insistent on the whole judgment being put out. I've said that if the whole judgment goes out then all the transcripts have to go out because it's going to be written in a way that they will try and make it that I wasn't successful."

The summary states that the judge decided Paul should pay Heather a lump sum of around $33 million, which together with existing assets of around $15 million means she will gain a divorce totaling nearly $50 million. The judge deemed that she had overspent during nearly two years of separation by $1 million.

Paul, who has long been estimated to be worth $1.7 billion, was found by the judge to only have assets of half that figure. The couple, who were married for just under four years, were not allowed to raise the issue of alleged misconduct, since the judge considered such details irrelevant.

The judge calculated Heather’s annual income needs at about $1.2 million and included a sum of $5 million for her to buy a property in London. A provision for daughter Beatrice consisting of periodical $70,000 payments was included, and Paul has agreed to pay for her nanny and school fees.

Of the provision, Paul said, "Beatrice only gets $70,000 a year so she is obviously meant to travel B class while her father travels A class. But obviously I will pay for that." The court has imposed a blanket order preventing disclosure of details revealed during the court case and in documents tendered to the court.

Source: www.People.com

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