The details of divorce settlements are often unique to each couple. Some divorces may result in joint custody of children, whereas others may give one parent sole custody. In addition, some divorces end with one spouse receiving just child support payments, yet others result in alimony and child support payments.
Billionaire Silvio Berlusconi, the Italian media mogul and politician, recently settled his divorce with his wife of approximately 20 years. According to a report, the couple's divorce settlement states that Berlusconi will pay his ex-wife $4 million per month in alimony payments.
Though most Massachusetts couples likely cannot imagine a $4 million monthly alimony payment, let alone a $4 million yearly income, divorcing couples may be able to relate to certain aspects of this couple's divorce settlement.
Berlusconi will pay his ex-wife a significant alimony payment each month, but he gets to maintain the couple's estate. Other couples may make similar types of financial decisions during a divorce. For instance, a couple may decide that one spouse will receive the possessions of their home, while the other spouse will keep the house itself.
If Berlusconi lived in Massachusetts, he would likely be impacted by the state's alimony law changes that went into effect a couple years ago. The new alimony laws take into account the length of a marriage when determining how long alimony payments will be made. So, Berlusconi's 20-year marriage would likely result in alimony payments lasting many years.
Since Massachusetts' alimony laws have changed in the last few years, it is important to understand the new laws fully when approaching a divorce settlement. As alimony laws can be complicated, consulting an experienced family law attorney throughout one's divorce may be very beneficial.
Source: New York Daily News, "Berlusconi to pay ex-wife $4 m-a-month alimony (that's $132,000 a day!)" Dec. 28, 2012