Residents of Mississippi may remember actor David Hasselhoff from the hit television show "Baywatch." What they may not know is that he is currently paying alimony to an ex-wife in the amount of $252,000 annually. However, the ex-couple is now embroiled in a court battle, with Hasselhoff maintaining he can no longer afford to pay spousal support.
Hasslehoff stated that while he earns $112,000 monthly, $66,000 of that is spent. Although he was set to go on a European tour, it had to be cancelled due to low ticket sales. Moreover, although he is currently working a new reality television show, it is too soon to say how much he'll make off of it.
However, Hasslehoff's ex believes he is worth over $120 million and that he is still obtaining work. In addition, according to court documents, Hasselhoff owns $1.79 million in other assets, including automobiles, retirement accounts and real estate.
A court hearing will take place regarding this issue later this month. However, as this shows, alimony can be a hot-button issue between spouses, particularly when one spouse believes his or her financial circumstances have changed so much that he or she can no longer afford to pay the current amount of alimony owed.
Sometimes it is possible for an individual paying alimony to petition the court for a post-divorce modification of the amount of alimony paid. Whether or not the court will approve such a modification is dependent on the facts of the case, and the individual usually must show a change in financial circumstances that warrants lowering his or her alimony payments. Individuals in situations like this may want to seek the help they need to understand how to best proceed with such a petition.
Source: Fox News, "David Hasselhoff reportedly has less than $4G to his name," May 21, 2016