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