Sylvester Stallone Fighting Estranged Wife Jennifer Flavin Over Use Of $35 Million Palm Beach Mansion, Denies Hiding Assets
Aug. 30 2022, Published 10:32 a.m. ET
Sylvester Stallone has denied his estranged wife Jennifer Flavin’s claim he was hiding assets in their divorce, RadarOnline.com has learned.
According to court documents obtained by RadarOnline.com, the 76-year-old action star responded to Flavin’s petition that was filed earlier this month.
In her filing, Flavin said she was ready to end the marriage after 25 years. The decision came days after fans noticed Stallone had covered up a tattoo of Flavin with an image of a dog.
His rep initially released a statement stating, “Mr. Stallone intended to refresh the tattoo image of his wife Jennifer; however, the results were unsatisfactory and, unfortunately, unfixable." Days later, the divorce was revealed.
Flavin demanded the exclusive use of the $35 million mansion in Palm Beach that they are currently renovating. In photos taken after the divorce was filed, Stallone’s wife had been seen entering the residence with her daughter.
In the divorce filing, it was also brought up that Flavin believed Stallone had been hiding marital assets. Her lawyer wrote, “the Husband has engaged in the intentional dissipation, depletion and/or waste of marital assets which has had an adverse economic impact on the marital estate.”
“The Husband should be enjoined from, selling, transferring, assigning, encumbering, or dissipating any assets during the pendency of proceedings,” her attorney said.
In his response, Stallone agreed that the marriage was “irretrievably broken.”
denied he had “engaged in the intentional dissipation, depletion and/or waste of marital assets which has had an adverse economic impact on the marital estate."
His lawyers said the actor had “has not engaged” in that activity. He also opposed Flavin’s demand that she be allowed to use the Palm Beach mansion for herself until the outcome of the divorce.
Stallone said he was not against paying for Flavin’s legal bills but wanted the “conduct of each party” to be watched by both parties.
As RadarOnline.com previously reported, the couple purchased the Palm Beach estate in December 2020 and recently started major construction.
Records obtained by RadarOnline.com show the couple hired a construction company that was set to complete demolition, renovations, and additions to the existing residence, including the existing pool/spa, guest house, site/privacy wall, seawall, and dock.
The judge has yet to rule on who gets to stay inside the mansion.