Many Michigan residents would agree that a divorce can come as a tremendous shock. Not only does a couple have to grapple with severing emotional ties but there are also financial matters that have to be addressed. Alimony, or spousal support, is just one of those matters that must be settled in a divorce. In the case of a celebrity couple, alimony can become a complicated, ugly issue. That seems to be the case with the oil baron Harold Hamm and his ex-spouse, Sue Ann Arnall. Hamm is the owner of Continental Resources.
Hamm's ex-wife told the court that just because she cashed an alimony check for almost $1 billion, she should not be stopped from making an additional divorce appeal in court. She contended that it is impossible that her portion of Hamm's wealth would shrink, although the court disagrees with her plea for a larger share of the company's value. Like most other divorcing spouses, the former Mrs. Hamm is trying to protect her interests.
In fact, Hamm asked the court to reject the plea on the grounds that she received alimony in the amount of $975 million in January. By accepting the initial amount, she lost the right to appeal. According to the divorce degree, she was completely aware of the terms and conditions of the divorce decree. Arnall did not even receive 10 percent of the couple's wealth, which is something that Arnall considers unfair. There were predictions that she would receive at least 30 percent.
In many divorces, especially those where high assets are at stake, alimony is a major point of contention and often leads to bitterness between separating or separated spouses. Divorcing spouses may choose to consult with a knowledgeable family law attorney to help with the divorce process and peacefully resolve the various issues surrounding it.
Source: Bloomberg Business, "Hamm Ex-Wife Says Cashing Alimony Check Doesn't End Appeal," Margaret Cronin Fisk, Jan. 28, 2015