Our Fort Lauderdale readers may be interested to hear about a recent feud between a man and his ex-wife that centers around property division and alimony payments. Before getting married, the two signed a prenuptial agreement that excluded inheritances and gifts from division during a divorce. It also excluded any financial growth in any business brought on by their independent efforts.
During their marriage, the husband started a business with a partner, and his wife gave up her career to stay home with their four children. When it came to divorce, the man was ordered to pay $3,500 a month in alimony, as well as $1,000 a month in child support, along with other expenses. Unfortunately, the former couple ended up in court again because the man did not pay the ordered amount.
The man claimed he was fired from his company and that he lives off gifts and loans. In other words, he claimed he has “no reportable income.” Considering the man lives in a $600,000 home, drives a Mercedes and goes on lavish vacations, the court didn’t buy it.
In the end, the court ordered the man to pay nearly $150,000 due to his ex-wife, and also gave her the family home. The ex-husband tried to use the prenuptial agreement as a way of getting out of paying alimony, but the court ruled against him, explaining that circumstances have changed a lot since they married in 1992, such as the fact that his ex-wife gave up her career to be a stay-at-home mother.
This case illustrated how hard both sides of a divorce may fight for what they believe is right. It definitely highlights the importance of having legal representation that can strongly and accurately represent a person’s interests.
Source: Forbes, “The High-Flying Debtor Gets His Wings Clipped In Newcomer,” Jay Adkisson, Dec. 28, 2013