Tag: bridge the gap alimony

Thelma & Louise and Alimony

A star of movies and television, actress Geena Davis, has announced she is divorcing her husband, Reza Jarrahy. According to documents, her husband is seeking alimony from his wife, and has asked that a request for spousal support by Davis be denied. What is alimony?

Earth Girls are Easy

This is Geena Davis’ fourth marriage. The actress’ husband filed for divorce after nearly 17 years of marriage on Tuesday. According to court documents obtained, Jarrahy cited irreconcilable differences and stated Nov. 15, 2017, as their date of separation.

In the court documents, which were filed under the names Rob Doe vs. Veronica Doe, Jarrahy is asking for spousal support and joint legal and physical custody of their children.

He is also asking the judge to deny any request by Davis for spousal support.

Florida Alimony

I’ve written about alimony and alimony reform in Florida often. In every dissolution of marriage case, the court can grant alimony to either party – husband or wife.

There are several types of alimony in Florida: bridge-the-gap, rehabilitative, durational, or permanent alimony. The court can also award a combination of alimony types. Alimony awards are normally paid in periodic payments, but sometimes the payments of alimony can be in a lump sum or both lump sum and periodic payments.

In determining whether to award alimony or not, the court has to first make a determination as to whether a party, like either Davis or her husband, has an actual need for alimony, and whether the other party has the ability to pay alimony.

Once a court determines there is a need and ability to pay alimony, it has to decide the proper type and amount of alimony. In doing so, the court considers several factors, some of which can include:

  • The standard of living established during the marriage.
  • The duration of the marriage.
  • The age and the physical and emotional condition of each party.
  • The financial resources of each party, including the nonmarital and the marital assets and liabilities distributed to each.
  • The earning capacities, educational levels, vocational skills, and employability of the parties and, when applicable, the time necessary for either party to acquire sufficient education or training to enable such party to find appropriate employment.

A League of Her Own

Davis is not only an actress, but a film producer, writer, and former archer. She is known for her roles in The Fly, Beetlejuice, Thelma & Louise, A League of Their Own, and The Accidental Tourist, for which she won the 1988 Academy Award for Best Supporting Actress.

The People article is here.

 

Alimony and The Parent Trap

Actor Dennis Quaid and his former wife Kimberly Buffington-Quaid are Breaking Away and are officially divorced. However, reports show that the multi-millionaire actor may not be paying alimony to his former Enemy Mine. Why not?

The Big Easy

According to People, Buffington-Quaid, who filed for divorce in 2016, will receive $2 million in a lump sum payment, another million for property settlements, and $13,750 a month in child support.

According to further reports, her child support payment could increase if Quaid pulls in more than $1.3 million in a year. However, there are no reports that he is paying alimony, other than the cryptic reference to a “lump sum payment”.

The Quaids case may be one in which alimony is not needed.

Florida Alimony

I’ve written about alimony and alimony reform in Florida often. In every dissolution of marriage case, the court can grant alimony to either party – husband or wife.

There are several types of alimony in Florida: bridge-the-gap, rehabilitative, durational, or permanent alimony. The court can also award a combination of alimony types.

Alimony awards are normally paid in periodic payments, but sometimes the payments of alimony can be in a lump sum or both lump sum and periodic payments.

In determining whether to award alimony or not, the court has to first make a determination as to whether a party, like Buffington-Quaid, has an actual need for alimony, and whether the other party has the ability to pay alimony.

Once a court determines there is a need and ability to pay alimony, it has to decide the proper type and amount of alimony. In doing so, the court considers several factors, some of which can include:

  • The standard of living established during the marriage.
  • The duration of the marriage.
  • The age and the physical and emotional condition of each party.
  • The financial resources of each party, including the nonmarital and the marital assets and liabilities distributed to each.
  • The earning capacities, educational levels, vocational skills, and employability of the parties and, when applicable, the time necessary for either party to acquire sufficient education or training to enable such party to find appropriate employment.

In the Quaid case, Buffington-Quaid seems to have been awarded a very handsome property settlement, in addition to over $13,000 per month in child support payments.

The Right Stuff

While the Quaids are sharing joint physical custody of their children, Buffington-Quaid was awarded 75% of their time.

From Quaid’s Vantage Point, he made out ok, and is reportedly keeping most of the cars — a 2007 Land Rover, 2012 Mercedes and 2013 Honda.

His ex-wife will also have Something to Talk About, she will keep her 2014 Mercedes. Additionally, the actor will keep their home in Austin, Texas, and they’ll split the sale price of their family home.

The People article is here.

 

Fast Break Alimony

According to various reports, former NBA lottery pick, Shelden Williams, may get a massive, lump sum, $400,000 alimony check from his WNBA star wife, Candace Parker. This post is about lump sum alimony.

Slam Dunk

That is the reported marital settlement agreement between Williams, and his wife, WNBA Los Angeles Sparks star, Candace Parker. Parker, one of the biggest stars in WNBA history, married Williams two years after he was selected 5th overall in the 2006 NBA Draft.

Despite the fact that her husband reportedly made more than $12m during his 6-year NBA career, Parker has apparently done better, and agreed to shell out the $400,000 alimony payment. In exchange, she won’t have to pay ongoing spousal support.

Florida Lump Sum Alimony

Lump sum alimony is not a form of alimony, but really a method of payment of alimony or equitable distribution.

I’ve written about various types of alimony before. Any form of alimony, durational, bridge the gap, etc., may be paid as lump sum alimony. Lump sum alimony can also be paid in installments.

Lump sum alimony is available where special circumstances exist to pay other forms of alimony in a lump sum. It may be comprised of real property too. A lump sum payment establishes a fixed monetary obligation which vests immediately, is non-modifiable, and does not terminate upon death or remarriage.

So, if the need for alimony exists, there must be some special circumstances to explain why non-modifiable award is appropriate.

Special circumstances may include a payor who has a history of non-payments. It may also be appropriate if the parties are of advanced age and close to retirement.

Full Court Press

Drafted No. 1 overall by the Sparks in 2008, Parker led the franchise to a championship during the 2016 season and was named MVP of the WNBA Finals. She has also played overseas for professional teams in Europe and China.

Williams was the fifth overall pick in the 2006 NBA draft by the Atlanta Hawks. The former Duke star played six seasons in the NBA before playing in France and China until 2015.

Parker and Williams married in 2008. They also have an 8-year-old daughter. According to reports, the couple agreed to joint legal and physical custody over their daughter. Child support is also interesting. According to reports, neither party will pay child support to the other. Instead, they both agreed to equally fund her education and split any major costs associated with her care.

The Bleacher Report article is here.