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Actor seeks relief from alimony payments

On Behalf of | May 23, 2016 | Alimony

Depending on each specific divorce, it is possible alimony could be a part of the final settlement. To the spouse who receives the monthly payment it can be what enables them to live a life that is similar to what they had when married. How long it will continue will depend on a variety of factors including the amount of time the couple was married and the responsibilities each maintained during the union.

As is the case with many things that are sorted out in the course of reaching a settlement, it is possible the amount ordered could at some point be changed. This is illustrated by the position actor David Hasselhoff claims he is in.

The former “Baywatch” star divorced his wife in 2006. Since then, he said he has been paying $21,000 each month to her. Since they ended their marriage, he has paid her a total of $2.3 million.

According to reports, he has assets worth $1.79 million. Despite this, the actor claims to have only $4,000 and has taken steps to end the monthly payments by filing papers with the court. He claims at age 63, he would like to start thinking about retirement and not worry about making enough money to pay his former wife.

His ex-wife believes his net worth is much more–$120 million. Accordingly, she will likely take steps to prevent any change.

It is possible that alimony payments could be reduced or ended in situations where the person making the payment no longer has the funds to do so. Whether this will happen in this particular case remains to be seen.