Sometimes, financial issues arise in connection to a divorce. Examples of financial issues that can arise in connection to a divorce include property division and spousal support. Sometimes, divorcing couples resolve financial issues related to their divorce through a settlement. This can be seen in a celebrity divorce that was recently finalized.
The divorce in question is the divorce between astronaut Buzz Aldrin and his third wife. Aldrin was part of the first moon landing and was the second man to walk on the moon.
Aldrin and his third wife were married for over two decades. In 2011, Aldrin filed for a divorce. Late last month, the divorce was finalized.
Aldrin and his ex-wife resolved the financial issues related to their divorce through a settlement.
One thing the settlement regards is spousal support. Under the terms of the settlement, Aldrin will make monthly support payments of $9,500 to his ex-wife and will also give his ex-wife 30 percent of his annual income.
Another thing the settlement regards is property division. Under the terms of the settlement, Aldrin's ex-wife will receive around half of Aldrin's fortune and half of any profits Aldrin's businesses generate for Aldrin.
As this case illustrates, financial issues are one of the types of issues that can arise in connection to a divorce. What resolutions are ultimately reached in connection to financial issues can be very impactful. Thus, when financial issues arise in connection to a divorce, having a strong advocate on one's side can be very important.
Source: The New York Daily News, "Astronaut Buzz Aldrin loses half his fortune in divorce settlement with third wife," Christine Roberts, Jan. 7, 2013