Libbie Mugrabi is a former culinary student who married a Wall Street broker who also happens to be a member of a wealthy and famous family known for its vast and impressive art collection. While Libbie and David Mugrabi’s marriage did not last a lifetime, something to which many Texas spouses can relate, they may not have been prepared for the contentious high asset divorce battle that arose when they decided to go their separate ways. It is not uncommon for disputes to occur during property division proceedings when there is a lot at stake.
The Mugrabis were battling over child custody issues as well. Regarding marital property, the Mugrabis disagreed about asset division regarding a $72 million townhouse and also a home in the Hamptons in addition to a high-value art collection. Things reportedly grew so acrimonious between the former couple that they are said to have gotten into a wrestling match while arguing over a $500,000 statue. In Texas and every state, the family court system has specific guidelines in place regarding property division.
In this state, property acquired during marriage is typically split 50/50 in divorce. While the Mugrabis initially disagreed about child custody issues in their divorce, Libbie recently told reporters that they have decided to bury the hatchet. They have agreed to settle property division issues and to share custody.
Libbie Mugrabi says another famous couple was her inspiration to part as friends with her ex in their high asset divorce and to work together peacefully as co-parents. It may not be all that common for Texas spouses to physically fight over assets. However, it is common for disagreements about property or child custody to arise in divorce, which is why it pays to stay connected to an experienced family law attorney while navigating the system.
