Skip to: Content
Skip to: Site Navigation
Skip to: Search
WEDNESDAY, NOVEMBER 25, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


2

As Economy Tanks, So Does Alimony

Wealthy argue that falling assets make old settlements unfair

Share

(Newser) – The impact of plunging asset values is making itself felt in divorce courts, reports the Daily Telegraph. Celebrities and corporate high-fliers pleading poverty have managed to wrangle reduced payments to their exes in recent months. Lawyers warn that the trend toward cut-price settlements is now becoming mainstream and urge estranged couples to look hard at their finances before taking legal action.

Lawyers advise would-be alimony recipients to hang on if they can until asset prices rebound—and suggest those with the checkbook get out while the getting's cheap. Marriage counselors, meanwhile, say the prospect of ending up with nothing should be even more incentive for couples to work hard at making their marriages last.

British comedian John Cleese managed to have his divorce settlement reduced by half after complaining that he was being squeezed by the plunging value of his property portfolio.
British comedian John Cleese managed to have his divorce settlement reduced by half after complaining that he was being squeezed by the plunging value of his property portfolio.   (AP Photo/Paul Miller)
Divorce lawyers in the US and UK are seeing a trend towards renegotiated divorce settlements as wealthy clients complain that they cannot make payments agreed upon in better economic times.
Divorce lawyers in the US and UK are seeing a trend towards renegotiated divorce settlements as wealthy clients complain that they cannot make payments agreed upon in better economic times.   (Shutterstock)
« Prev« Prev | Next »Next » Slideshow

I asked him whether he was going to stay or leave the marriage. He replied that he needed to study the figures and was going to run it through his spreadsheet that evening and make a decision. - London divorce lawyer, on a client meeting

« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.24.09
Murdoch and Microsoft: The Mice Are Trying to Roar
11.23.09
Books Are Bad for You
2 comments
VIEWING:
 
bacimom
Mar 24, 09 10:54 AM CDT
I'm sorry... there are working mothers everywhere trying to get their child support checks from deadbeat dads even in a good economy. .. now? The concept of alimony (unless your spouse is disabled in some fashion in downright archaic. Everyday women (alimony is usually paid to the wife) generally are working and even those staying home with the kids frequently subsist on child support and minimal housing alimony if any. The big dollar alimony settlements for people who just can't manage to live on less than millions a year to maintain their lifestyles need to get a life first! The spouses egregious financial "needs" are as bad as the wage collectors at the big Corps. F-k you, hurray for me and if the great unwashed masses suffer, oh well. A bas les aristos ! Reply
Vote up! Vote down!
0
IN RESPONSE:
radnip
Mar 26, 09 5:54 PM CDT
Why do these husbands need to keep their money away from their wives and their kids?
Vote up! Vote down!
0
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

100 Stories

 Paris Divorce Fair 
 Thrives on 
 Breakups 

Get legal advice and plastic surgery for life's next phase

Nov 9, 09 4:26 PM CST
(Newser) - The annual Paris Marriage Fair has spawned a modern offspring—a Divorce Fair. “Divorce has lost its stigma,” says its organizer; nearly 50% of French marriages, including two of Nicolas Sarkozy's, don't last. Booths at the fair offered services from divorce lawyers, tarot card readers, self-esteem coaches, and... More »

MORE ABOUT:
divorce • Nicolas Sarkozy • France • marriage • Paris • lawyer • divorce attorney • separation • trade fair

(Newser) - Researchers have discovered the secret of a happy marriage—at least for the husband: a younger, smarter wife. Such marriages are likely to last, particularly when neither spouse has been previously divorced. Marriages involving women at least five years younger than a husband and with a higher educational level fared... More »

MORE ABOUT:
divorce • marriage • wedding • husband • wife • cougar

Men More Likely to Abandon
Sick Partners

Seven times as many women stay when serious illness strikes

Oct 15, 09 12:11 PM CDT
(Newser) - Relationships fail seven times more often when illness strikes the female partner than when it strikes the man. Researchers don't know why, but theories abound: “There is an immediate shift in a relationship when an illness is diagnosed,” a counselor tells the Times of London. Gender roles... More »

MORE ABOUT:
cancer • divorce • disease • women • men • marriage • multiple sclerosis • chronic illness • gender roles • relationship • scientific study • medical study • terminal illness

100 Stories


Fund manager argues financial crisis makes divorce settlement unfair
Times (UK)


Business  •  World 
TwitterFollow @NewserBusiness on Twitter

 
divorce • marriage • divorce settlement • financial crisis • recession depression

from our news partners