Posts Tagged ‘alimony’

More Men Get Alimony As Stigma Lessens

Tuesday, September 30th, 2008

The Wall Street Journal reports that more men are receiving alimony, up to 3.6% over the 5-year period ending in 2006, compared to 2.4% in the previous 5-year period.  Even in the Dallas, Texas area divorces, more men are sacrificing their career opportunities in favor of their wife’s.   Wives make more money than husbands in 33% of all marriages (including those where the husband may  not work.)

Alimony is the money that a higher-earning spouse gives to a lower-earning spouse following the end of the marriage.  Texas has a very limited court-ordered alimony statute, only providing alimony (aka maintenance in Texas) where the parties have been married for 10 or more years, plus the spouses lack property in the divorce to provide for the other spouse’sreasonalbe needs, plus either the spouse lacks the ability to earn wages to meet minimum needs or the spouse or a child have a disability that makes working outside the home difficult.  However, alimony can be provided for by agreement even when the situation lies outsides of the exact parameters of the legal statute.

Men are receiving alimony today for the classic reasons that women traditionally did.  A common argument is that they sacrificed their careers for the sake of their wives or children.

Some spouses find it distasteful to write a check each month to their former spouse.  So, the increasingly common practice is to trade alimony for a fatter slice of the marrital property pie.

Men and Alimony

Monday, September 15th, 2008

More Men Get Alimony as Stigma Lessens

By Debra Cassens Weiss

As more men sacrifice their careers for their higher earning spouses, more are receiving court-ordered alimony. And more are willing to talk about it.

The percentage of men receiving alimony rose to 3.6 percent in the five years ending in 2006, compared to 2.4 percent in the previous five-year period, the Wall Street Journal reports.

Among those receiving alimony is actor John David Castellanos, who used to star in The Young and the Restless. He gets $9,000 a month. He claims he helped his wife move up in her career, until she began to make more money than him. Another alimony recipient is toilet salesman Joe Garnick, who quit his job to raise the kids and take care of the house. He received $50,000 a year for four years from his ex-wife, who was a global equity derivatives strategist for Merrill Lynch.

The story suggests alimony figures will rise based on 2005 data that shows wives made more money than their husbands in 33 percent of all families. Men often argue they sacrificed their careers or stayed at home to raise children for their spouses.

“Today’s men are shaking off the stigma of being supported by their ex-wives,” the story says. “Several agreed to talk on the record for this article, in part because they say the popular image of the male alimony recipient is unfair: He’s not always a slacker.”