On February 17th, Justice Maron, sitting in the Supreme Court of Nassau County, rendered a decision in the case of S. S. v. M.S, denying the defendant husband a downward modification of his child support and spousal maintenance payments. The husband’s application to the court indicated that his income had been greatly reduced. He stated his income had been reduced by 58%. He explained the reduction in his income was caused by being terminated from his high-paying position. He claimed he was only able to find employment at a greatly reduced salary.
Liquidation of Assets
The father claimed he had been forced to liquidate assets to maintain the current rate of his financial obligations for child support and spousal maintenance. He also alleged his health was being negatively impacted by this situation.
Justice Maron found the father’s net worth statement was not complete. His decision stated that the father failed to set forth the total amount of his assets. He found the father was a title owner to a brokerage account worth over a half million dollars and, in addition, he owned an individual retirement account with a cash value of over $163,000.
Justice Maron reached a conclusion, based on the father’s additional assets, that he had sufficient liquid assets available to fulfill his financial obligations for child support and spousal maintenance. The Judge ruled the current child support and spousal maintenance payments did not create an extreme hardship for the father.
The Law Offices of Schlissel DeCorpo represents individuals with regard to all aspects of matrimonial and family law. We litigate the grounds for divorce, orders of protection, child custody, child abuse, child neglect, annulments, issues involving fathers’ rights, mothers’ rights and we participate in mediation to resolve divorce matters. We also draft pre-nuptial agreements and post-nuptial agreements. Feel free to call us for a free consultation at 1-800-344-6431, 516-561-6645 or 718-350-2802.