Question

Assume that, after the divorce agreement was reached, Steve Simkin found that his Madoff account had substantially increased in value. In this case, Laura ________ rescind the agreement to obtain the increased value.

Answer 1

Answer: Laura could not rescind the agreement to obtain the increased value.

Explanation:

Since a divorce settlement was already made and both parties agreed to the terms she could not go back and rescind this agreement. If the divorce settlement had of had a provision for any accounts that increased she could of gotten extra money. However, this one does not have anything so she is not eligible to take any money from that account.

Each divorce settlement is different and if there is a chance that an account can change and be valued higher, the couples should add that into the settlement before signing the divorce decree.