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Couple fights in court over income from husband’s company

On Behalf of | Jan 6, 2014 | Property Division

Couples in Arizona who may be contemplating marriage may be interested in the outcome of a case involving support payments in Ohio. The couple’s prenuptial agreement included a clause excluding dividing any inheritances or gifts received by either party during the marriage. It also excluded division of the appreciation or growth of a business venture if it was brought about by one party’s personal efforts. The husband and his college friend started a new business in the couple’s home a after they were married. About a year after the company took off, the couple divorced.

Initially, the wife was awarded custody of their four children and her husband was ordered to pay child support in the amount of $1,000 per month, spousal support of $3,500 per month and an assortment of other expenses. When he failed to pay as ordered, the matter went to court.

This time, the wife complained that, not only did he not pay as ordered, but that he also was living in a $600,000 home and driving a Mercedes paid for by his company. In spite of the allegations, the husband contended that he had no income, which the court did not find credible. The hearings lasted 11 days and determined that, even though the man’s actual income was indiscernible due to a number of factors, his imputed income was $150,000 annually. The court also awarded the wife the family home and $146,983 worth of unpaid obligations

Even with a prenuptial agreement, couples often find themselves at odds during a divorce. During property division and negotiations regarding support payments and custody agreements, individuals may benefit from working with a family law attorney.

Source: Forbes, “The High-Flying Debtor Gets His Wings Clipped In Newcomer“, Jay Adkisson, December 28, 2013