A recent article reminds us that child support disputes can arise for divorcing parents at any income level — even billionaires.
According to a recent article, Kenneth and Dias Griffin’s high profile and reportedly contentious divorce includes a dispute over child support for their three children, ages 2, 4 and 7. Kenneth, a hedge-fund manager, has an estimated net worth of over $5 billion. Dias also has her own assets, valued around $50 million.
In a recent court filing, Dias alleged that her soon-to-be former spouse has not paid child support since their split. She has requested that the court convene a hearing on child support. Dias is seeking payments not only for child raising costs, but also for staffing and fixed overhead expenses, including security and administrative staff who will report to her.
One of the disputed support issues includes the couple’s former marital residence in a high-rise condo. The couple had entered into a prenuptial agreement before their divorce. Pursuant to its terms, Dias has exclusive possession of the couple’s former marital residence, located in a high-rise condo, for one year after the couple’s separation. However, Dias is now seeking to have the court invalidate the prenuptial agreement.
When Florida courts compute child support, each parent’s income and financial contributions are taken into account, as well as the parenting plan. With high-income parents, the court may also consider the needs of each child and the standard of living each had prior to the parents’ separation. A child custody attorney can explain these nuances in greater detail.
Source: Florida Department of Revenue, “Child Support Amounts”
Source: Chicago Tribune, “Griffin divorce: Billionaire’s wife says term’s seek her to be ‘good girl’,” Becky Yerak, Jan. 21, 2015