Rhode Island residents who are divorcing are probably wondering how their split will affect their finances. Unfortunately, divorce had a negative impact on the financial situation of former "Nip/Tuck" star Dylan Walsh. His split is going to cost him approximately half of all of his assets, including money made from the show "Nip/Tuck."
The divorce between Walsh and his actress ex-wife was finalized last week, and according to the divorce documents, Walsh has agreed to pay his ex-wife half of his royalties from the show along with royalties from a couple of his movies.
His ex-wife has agreed to pay half of her royalties from shows such as CSI and Criminal Minds. Walsh also agreed to provide an extra $118,376. Although royalties are income, they represent distributions from work performed during the marriage and therefore subject to equitable distribution.
The couple has agreed to share legal custody of their 9-year-old daughter. Walsh has agreed to pay $4,300 from each of his paychecks in child support. Walsh earns $93,000 per episode on his new show, "Unforgettable." He will also be paying a large amount of spousal support until 2015.
In situations such as this, spousal support amounts vary based on several factors. When making alimony decisions, courts will look at the age, physical condition and financial situation of each former spouse. The court will also look at the couples' standard of living during marriage, the length of the marriage and the ability of the payer spouse to support the other spouse and still support him or herself. Finally, the court will look at the length of time the recipient spouse needs for education and training to become more self-sufficient.
Source: Fox 34 News, "Walsh to pay ex-wife nearly half his fortune," Dec. 28, 2012