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Former OMB official in child support dispute

Former OMB official in child support dispute

Illinois residents that become involved in child support disputes may want to make note of the child support case involving a former director of the U.S. Office of Management and Budget who is now a bank executive. One byproduct of contested child support cases is that personal finances may become public in some instances.

Court documents were filed in a District of Columbia court on March 9, in advance of a trial scheduled to begin on March 11. The father's ex-wife as well as various media organizations had sought to have his finances made public, and a judge agreed in late February. The mother has been involved in a child support dispute with the former public official since 2012.

The couple married in 1997 and divorced in 2006, and they had two children together. A child support agreement was amended and agreed to by the parties in 2008. However, the childrens' mother asserts that her ex-husband is now making much more money, so she wants child support payments increased to $25,000 per month. The documents filed on March 9 reveal that he is expected to earn almost $4 million in 2014. His attorneys have countered with assertions regarding the significant income and assets of the mother, who made $350,000 in 2013 according to court records. Furthermore, her liquid assets were claimed to have increased to $2.2 million at the end of 2012 from $1.5 million at the end of 2008.

When the income of one parent or the other changes substantially, child support obligations may be adjusted accordingly. If an agreement regarding a new level of child support cannot be reached, the matter may go to trial as is happening here.

Source: Politico, "Peter Orszag riches public in child-support trial", Lucy McCalmont, March 11, 2014

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