Divorce brings many concerns, including those regarding financial stability after the process is final. In order to provide the lesser-earning spouse with a cushion in the months and years following a divorce, spousal support is sometimes granted. This is given to a spouse after consideration of many factors, including income, the length of the marriage and more.
Kentucky residents may know that the famous actor Tom Welling and his wife have recently divorced. In the divorce, Welling's ex-wife was granted spousal support for a period of five years. Interestingly, Welling was not ordered to pay a set amount. Instead, he must pay his wife 20 percent of his professional income. Anything over $5 million earned by the actor is not included in that 20 percent.
For celebrity couples, it is not uncommon for one spouse to make a significantly higher amount than the other. It is not immediately clear if this couple had a prenuptial agreement, but these legal agreements typically outline how property will be divided and whether one of the spouses will receive financial support after the divorce is finalized. While this is common for high-income couples, a prenuptial agreement can be a practical step for any couple considering marriage.
Kentucky residents know that divorce is a complex process, one that involves dividing marital assets, property and more. When facing divorce, a person could benefit from taking steps to claim his or her rightful share of marital property, along with financial support. A case evaluation of the individual situation will determine which options are available.
Source: tmz.com, "Tom Welling: Super Rich Divorce Settlement", Nov. 22, 2015