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Dwayne Wade's ex heated up over endorsement deals

Dwayne Wade is the smiling face on the commercials, the man whose muscles are photographed and the voice that may be heard on the cellphone ads, but his ex-wife reminds him that a portion of the income from those deals are still hers. Another reminder: divorce isn't a game and the rules are very important. 

An Agreed Preliminary Injunction became the basis of Siohvaughn Wade's breach of contract complaint. The breach, she says, left her ex-husband with the ability to hide or divert some of their marital assets. 

So what happened? The API agreement was entered into shortly after Dwayne Wade filed for divorce in 2008. The agreement specifically required that every drop of the income from endorsement deals with Gatorade, T-Mobile, Lining LLC and Staples Office Superstore be "'immediately and directly' deposited into a mutually selected financial institution."

The complaint filed by Siohvaughn claims that the income was instead deposited into an account over which Dwayne Wade had sole control. This, the complaint states allowed the NBA star to divert some of the funds before they made their way into the mutual account.

How did this happen? Siohvaughn was not sure whether her ex directly told the companies involved in the endorsement deals to deposit the money this way or failed to inform them of the API requirement.

Following even the most minute of details is very important when it concerns a divorce agreement, even temporary ones that are only in place until the divorce is finalized. A careful and attentive divorce attorney will not only ensure that an agreement has the requisite level of detail but that the other spouse follows those terms.

Source: Courthouse News Service, "Dwayne Wade's Ex Has Eye on Gatorade Money," Kevin Koeninger, July 10, 2013

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Dwayne Wade's ex heated up over endorsement deals | Peter A D'Angelo, Attorney at Law, PLC