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« Stars Who Have Lost Fortunes | Main | Stating the Obvious »

December 11, 2009

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"He also must pay [his daughter]'s college expenses until she reaches 23 years old."

Say what? I thought all support stopped at 18, or at 19 if the child is still in secondary (high) school? Perhaps he agreed to this as part of the settlement, if it's not required by law, but can anyone tell me if that is normally the case?

Regardless, stories like these make me so glad I haven't married, and that all my "kids" have four legs and are covered in fur! I'm sure Jim Nantz will manage somehow with the millions he retains, but I've seen way too many lesser-earners get raked over the coals by divorce and child support. They'll be working 'til they die because they live paycheck-to-paycheck and will never have enough saved for retirement.

Amazing. He has a daughter, and he should just pay whatever it takes to raise her properly, but the girlfriend? Well, I hope she's worth it.

Dar,

The college tuition is a drop in a bucket, so I can see why he agreed to it. Plus, it is for his daughter, not his ex-wife. He is ensuring that his daughter will have a proper education without the need to take out student loans.

If you think about it, even Harvard is only about $140-160k MAX over 4 years. Compared to $916k per year for alimony, that is nothing.

I never agreed to pay for my son's education in the divorce, but I am going to because as FMF says, it is one of the best things you can do for your own personal wealth in the long term and I want him to have a good start on building his wealth.

rdub98 -- I certainly think it's a good thing for him to do. I'm just curious if it's something that the law compelled him to do.

I don't want my comment to be interpreted as being "anti-child support", because every parent has a moral responsibility to do so, much less a legal responsibility. I was just surprised that he would cover her expenses to age 23.

In any case, I assume it was just part of the settlement package he reached with his wife, and not mandated by the state.

Dar,

I would think so too. I don't think the law mandates anything but basic child support like you described (18 or 19 depending). Mine is that way.

Him agreeing to pay for college probably made her agree to less than the 1.5 million/yr alimony she asked for. A bargain, since college only lasts 4 yrs and not forever.

Why do so many powerful/successful men prefer to marry pretty airheads who have no marketable skills or career plans? You'd think they'd learn. Alimony is rarely awarded (or requested) in cases where both spouses have skills and careers.

Wow - that is chunk of his fortune. I have not really followed this story too closely so thank you for the summary.

Those who do not remember history are condemned to repeat it. See you in the funny papers Jim.

Just saw John Cleese's "Alimony Tour, Year One," a one-man show to help fund a $19.7 million divorce settlement.

Said Cleese: “I got off lightly. Think what I’d have had to pay (my wife) if she had contributed anything to the relationship," such as children or conversation.

I've always thought lifetime alimony was unfair. Why should anyone be responsible for supporting their ex-spouse, like they're still married, for the rest of their life?

Wow, if Jim can pay THAT much in alimony, he is one RICH dog! I'm very envious! lol

Some advice for Jim with his new girlfriend...

Rent, don't buy!

Of if you buy, get a pre-nup!

-Mike

I think I read about another sports personality with marital issues recently...can't remember quite who.

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