Television viewers in Texas who enjoyed David Hasselhoff's successful "Baywatch" series might assume that stars never have financial problems. Wealth and fame, however, often go hand in hand with costly divorces that impose hefty spousal support obligations, like the $21,000 a month Hasselhoff agreed to pay his ex-wife after they ended their 16-year marriage in 2006. The actor has now approached a court to end the payments entirely so that he can prepare financially for his retirement years.
About one year ago, a judge approved his request to lower the alimony to $10,000 a month. His new petition asserts that he should not have to pay his ex-wife perpetually, especially since she has made no effort to become a self-supporting individual even after receiving approximately $2.5 million in payments. His court filings express his belief that she expects to live off his support forever and never acquire job skills or earn her own living.
When Hasselhoff achieved a reduction in spousal support earlier, he said that he possessed under $4,000 in liquid assets and dipped into retirement savings to pay bills. He now said that he must continue working at age 63 to make payments, even though he should be saving for retirement. Estimates of Hasselhoff's net worth indicate that he has $1.79 million in other assets, including real estate, cars and art.
A person who wants to end a marriage could discuss issues like alimony with an attorney. An evaluation of the marriage and family law could give the person insights into possible legal obligations to support a former partner. To protect the person's long-term financial needs, an attorney might strive to achieve an equitable divorce settlement.
Source: Wonderwall, "DAVID HASSELHOFF ASKS JUDGE TO STOP ALIMONY PAYMENTS TO EX AFTER ALREADY SHELLING OUT $2.5M", Mark Gray, Sept. 18, 2017