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Millionaire sued for unpaid child support

As many people in Georgia know firsthand, getting divorced has its challenges. Although many couples are able to calmly agree on how to split up their property and debts, along with resolving issues of spousal support and child custody, others, especially those involved in high-asset divorces, experience more contention.

Take the situation of a multimillionaire who is being accused of not following through on his child support responsibilities. That is the allegation in a recent lawsuit filed by his ex-wife. She states that her former husband hasn’t paid his $45,000 annual child support since October.

The woman has also claimed that she is owed $5 million due to her ex-husband’s association with various stock and trade exchanges. Her lawsuit also contends that her ex-husband has failed to give her a portion of his retirement fund.

Not surprisingly, the man felt differently about the lawsuit and argued that his ex-wife was wrong and was acting with the same desperation that recently caused her to sue her former partner in business. He stated that he had paid for many of his daughter’s expenses, including health insurance and personal expenses.

Unfortunately, high-asset divorces can turn ugly very quickly. This couple has been trying to work through various aspects of their divorce since 2005 and have not ceased. While it may be preferred to work out a divorce settlement amicably and stay out of court, sometimes more drastic legal measures must be taken to ensure that a divorce agreement is upheld by both parties.

Source: New York Post, “Former NYMEX boss hit with child-support suit,” Julia Marsh, Dec. 16, 2013