Famous comedian John Cleese had a comedy show called “The Alimony Tour” a few years ago, but now the action known for acting in “Monty Python” probably doesn’t think alimony is as funny as it used to be.
The actor got divorced for the third time back in 2008 and was required to pay alimony to his ex. The actor accumulated a significant amount of wealth during his years as an actor and comedian, and his alimony payments to his ex-wife show just how well-off he was before they got divorced.
The couple’s divorce settlement required the actor to pay his ex $13 million in cash and assets. He is also required to pay her almost $1 million every year until 2016. The comedian recently said in an interview that people think he is sitting on a lot of money, but the reality is that he has been working to help make his alimony payments. He also admitted to selling four of his properties to help pay alimony.
While this case is unique because of the significant amount of wealth and assets the couple had during their marriage, it shows the impact divorce can have on the spouse required to pay alimony. Like this case shows, alimony payments are not always a lump sum. Rather, spouses may be required to pay their ex alimony for quite some time. That is why it is important to understand alimony laws in Texas to see how the divorce will impact your financial future. This is true for both spouses who will be paying alimony as well as those who will be receiving alimony.
Source: The Huffington Post, “John Cleese’s Alimony Payments Are No Laughing Matter,” Jan. 31, 2014