Portrait of John K Grubb

Texas Divorce and Prenuptial Agreement

4550 Post Oak Place, Suite 201 • Houston, Texas 77027-3139

Phone: 713-877-8800 • Fax: 713-877-1229

Ruth Madoff to Divorce Bernie, Will Not See Much Money

The ruin that Ponzi scheme fraudster Bernie Madoff brought to his investors extended to his family. The constant media attention on Bernie shamed the family and led to his 46-year-old son Mark’s suicide in December of 2010. Now Bernie’s wife Ruth is finally deciding to dissolve ties with her husband and pursue a divorce.

Bernie and Ruth fell in love with each other in high school and have been married for 52 years. The long time they were together was not enough to overcome Bernie’s criminal activity, although Ruth did initially support Bernie. Back in 2008 after his arrest, sources say that the couple’s two sons told their mother to cut ties with her husband or risk not seeing them anymore. Ruth sided with Bernie and has not spoken with her remaining son Andrew since 2008.

Given the lawsuits and criminal sentence weighing on Bernie, Ruth will probably not get much, if anything, in her divorce. Since Bernie’s arrest, Ruth has been living in a Florida apartment, using her maiden name, dying her hair and living on substantially less than what she became accustomed to while married to Bernie.

A prenup at the start of Bernie and Ruth’s marriage would have likely been insufficient both because of Bernie’s fraud and because of the fact that the two married so long ago. When circumstances change during the course of a marriage (often the case when one spouse becomes famous, but got married before achieving renown), a couple’s financial status may also significantly change. A postnuptial agreement is a possible way for a couple to manage their finances after getting married.

John K. Grubb & Associates, P.C. – Houston divorce attorneys

No Comment