Alimony may cause conflict in Kentucky high net worth divorces

In Kentucky and elsewhere, an individual’s finances can be considerably affected by divorce, both immediately and in the long term. Between property division, alimony and other possible payments, it is not usual for individuals to fear the outcomes of their divorce settlements. However, rather than sit back and expect the worst, individuals may wish to take steps to prepare for their cases and fight for the terms they want.

Two individuals in another state are currently taking such action as litigation continues over their divorce settlement. The case involves multimillionaire Richard Stephenson — founder of Cancer Treatment Centers of America — and his ex-wife Alicia Stephenson. The divorce petition was filed in 2009, and the marriage was dissolved earlier this year. However, the terms of the settlement are still causing conflict, especially when it comes to alimony.

Alicia Stephenson is apparently seeking $400,000 a month in support in order to uphold her lifestyle. However, Richard Stephenson argues that he does not have the ability to pay such an amount. It was noted that the couple did have a prenuptial agreement, but apparently, the document has not been determinative concerning these issues.

High net worth divorce cases can be particularly contentious, and therefore, divorcing Kentucky residents with considerable wealth may wish to approach their cases with specific goals in mind. By knowing which outcomes they would like to work toward, individuals may be able to work with their legal counsel to find the best possible solutions. Information regarding alimony and other related topics may be of particular interest.

Source: Chicago Tribune, “Cancer Treatment Centers founder says he can’t afford to pay ex $400K a month“, Amanda Marrazzo, Dec. 20, 2016