A Brighter Future Is Within Your Reach

A Brighter Future Is Within Your Reach

David Hasselhoff is dipping into retirement funds to pay alimony

On Behalf of | Apr 26, 2016 | Alimony, Firm News |

When celebrities get divorced, their financial agreements are often aimed at allowing both parties to continue living the lifestyles to which they became accustomed during marriage. Alimony is typically based on the income of the higher-earning spouse — among other things — at the time of the divorce. However, as time passes, the income of the paying party may diminish, and the alimony obligation may become unaffordable. To reduce or stop alimony payments in Massachusetts, a petition must be filed in the court.

David Hasselhoff — the former Baywatch star — has been paying court-ordered alimony of $21,000 per month to his ex-wife since their divorce in 2006. Now, he argues that he is approaching retirement and that his monthly income is significantly less than it was 10 years ago when the couple got divorced. He claims that, at age 63, he has to dip into his retirement funds to maintain his alimony obligations.

The details of a divorce judgment typically determine whether spousal support will extend into retirement. When petitioning the court to eliminate or reduce spousal support payments, the applicant must prove a substantial change in circumstances to the court. The court will consider many factors — including imminent retirement — when making a decision about reducing, ending or continuing alimony.

When Massachusetts individuals want to pursue the modification of existing alimony obligations, it may be beneficial to consult with an experienced divorce attorney. A lawyer can explain the details of the Alimony Reform Act and provide guidance concerning the legal procedures required for filing a petition for modification. The law allows for post-divorce modifications and litigation related to existing obligations, and a skilled legal representative may prove beneficial during the navigation of such actions.

Source: CBS News, “David Hasselhoff is tired of paying alimony“, Ned Ehrbar, April 19, 2016