More Tiger Woods Divorce Troubles

Aug 8, 2012 by

Ever since the financial experts at Forbes SportsMoney estimated Tiger Woods’ current total net worth to be below the $750 million settlement that estranged wife Elin Nordegren was rumored to be receiving, the Internet has been awash with speculation as to what is really going on with the couple’s divorce. But the real story could be a long time coming, as long as both agree to the terms of their negotiations, the couple can keep most of the details of their divorce out of the public’s view.

If and when Tiger’s divorce does happen, it is likely to be in Florida where the couple owns two homes and will get the most tax advantages compared to California or Sweden, their other two choices. Florida is a no-fault divorce state that allows an irretrievably broken marriage as the only grounds required for a split and no further details need be given. The Woods can also choose any one of Florida’s 66 different counties to quietly file their divorce in as well.

Florida also allows equitable distribution, which presumes that assets are divided equally between the spouses at the time of divorce. Under that premise, Elin would be eligible to collect half of the assets Tiger has earned since the couple got married in 2004. Elin would not collect half of his estimated $600 million current net worth, which Tiger earned much of prior to their marriage. She would be entitled to half of his post-2004 earnings only, and ultimately a far lower figure than the $500 to $750 million numbers being thrown around in the press these days. Some gossip websites are now estimating that Elin is more likely to walk away with something like $100 million.

No one knows how long the case will take to settle either. Negotiations could take days or they could take years. The only aspect of Tiger Woods’ divorce case that is certain is that until the couple actually files for a divorce, the speculation will continue.

 

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