How they divided assets

Details of the divorce settlement involving Paul Donisthorpe and Liane Kerr

Kerr, who filed for divorce on March 24, citing irreconcilable differences, keeps:

■ Their North Valley home on Fourth Street NW, with a market value of $475,000.

■ A 2012 Jeep Grand Cherokee.

■ A $68,000 Merhow horse trailer.

■ A 1994 Dodge Dakota truck.

■ The $400,000 law office building at 1011 4th St. NW, which was also the business address for Desert State Life Management trust company. Donisthorpe waived all his rights and interest in the property to Kerr. The FBI has identified this property for civil forfeiture, alleging it was purchased in part with proceeds from client trust funds.

Donisthorpe keeps:

■ Angel Fire “luxury lodge” with a value of $950,000, with a balance of $296,752 on the mortgage. The FBI has also sought forfeiture of this property in a pending civil case.

■ Corazon Cattle LLC, with approximate market value of $1 million. Kerr, who said she never had any dealings with the business or access to the accounts, assigned her membership and any other interest in the business to Donisthorpe.

■ Corazon-Pitchford Cattle Co., more than 119 acres in Henderson County, Texas, that appraises for $498,500.

Donisthorpe, in the agreement, indemnified Kerr from “all liability associated with his enterprises including but not limited to PAD, LLC (the Paul Donisthorpe LLC), Paul A. Donisthorpe CPA, Desert State Life Management and any clients with respect to errors and omissions which resulted from his practice.”

Divorce settlement was signed by both parties on May 17. The settlement wasn’t filed in court until June 19.