Canadian record: Toronto woman to get $110,000 a month in spousal support

[alexmst]

http://www.thestar.com/news/canada/article/734450--ex-wife-s-award-a-canadian-record

A court has awarded a Toronto woman what is believed to be a record-setting spousal support payment.

Carol Ann Elgner, 61, will receive $110,000 a month from her husband Claude Elgner. The award was based on the length of the marriage and Claude Elgner's annual income of $3 million to $4 million.

Carol Ann Elgner's lawyer Julie Hannaford says the amount reflects a growing feeling within the judiciary that spousal support has not kept up with the times. Hannaford said times have changed from the days when awards were thought of as keeping the heat and lights on at home.

Hannaford said lawyers she has spoken to agree it is the largest spousal-support award ever in Canada. The couple separated in 2007.

Elgner had spent her entire married life at home raising their three children. During that time, her husband's businesses – supplying plastic fixtures used in automotive interiors – grew at a colossal rate. Their assets included a $1.5 million home in Toronto, a $2.6 million summer residence in Muskoka, a $3.5 million home in Florida and a condo in Whistler, B.C., along with five timeshares.

Claude Elgner, 62, argued at trial that his former wife has already received $6.2 million in cash and investments directly from him. He also contended his remaining wealth ought to be largely excluded from the net family assets that are equalized at the time of a divorce. He also pointed out his wife received $775,443 in after-tax income last year, largely as a result of dividends.

The Canadian Press

 

[hinz]

Note to gold digger in training....do your homework and dig deep to investigate whether the target is a true sugardaddy he claims he is.

BTW there're no boundary when it comes to avarice and political activism in judicial system, in which many times are meant to screw men as victims in the name of equality.

In any event, sounds like the $700K dividends per year are not enough to live a lavish lifestyle on plastic surgeries, foie gras, cavier dining, shopping trips on Rodeo Drive and being cougar chasing boy toys.

Or it could be worse if the spousal supports are really for 3 adult spoilbrats, aka Kidult!

 

[keepmovingforward]

well i think the idea was that she stayed at home so he was able to create this wealth or she could have been out working herself and possibly create a career for herself. i think its fair...it sucks...but its fair. though i'm really dont agree with paying spousal support if the spouse has been working their whole lives but just didn't build a career for themselves to earn as much. but that is really a grey area where i'm sure someone can bring some good points to me.

and im talking about on going spousal support....not the dividing of the assets...that is obvious...you get married...you basically said half of what's mine is yours....and vice versa....

but i heard on the radio...could be the same couple or not...this morning that a man who is in the middle of a divorce settlement claimed that since they are dividing everything, he insist that he gets half of his ex's breast implants. lol

 

[spankingman]

TOTALY ABSURD!!!!!!!!! What person needs that amount of money to live???? Tell the bitch to get a job.Lifestyle my ass GOLD DIGGER is more like it. Maybe she will get a reality show too.

 

[tboy]

well i think the idea was that she stayed at home so he was able to create this wealth or she could have been out working herself and possibly create a career for herself. i think its fair...it sucks...but its fair. though i'm really dont agree with paying spousal support if the spouse has been working their whole lives but just didn't build a career for themselves to earn as much. but that is really a grey area where i'm sure someone can bring some good points to me.

and im talking about on going spousal support....not the dividing of the assets...that is obvious...you get married...you basically said half of what's mine is yours....and vice versa....

but i heard on the radio...could be the same couple or not...this morning that a man who is in the middle of a divorce settlement claimed that since they are dividing everything, he insist that he gets half of his ex's breast implants. lol

I know how the judge would rule on breast implants but that is an interesting point. They are items purchased during the co-habitation so maybe the value of them would be put into the pot?

As for the settlement in the op. That's ludicrous. Yes, there is tremendous value in raising of the kids and that should be considered when a divorce settlement is being discussed. But if she did in fact already receive 6.2 million and IS making 3/4 million a year, and he's only making 2, that is MORE than fair. One has to assume that the dividends are for his company and were given to her over the years.

The ONLY time support payments should be required is if and when the wife is UNABLE to support herself. Notice I said UNable? If one is capable of work, then one should work.

Also true is what assets were divided? If there was a 1.5 million dollar house then she'd get half and the cottage, 2 million, 3.5 million dollar house in FLA, that's 7 million, 3.5 of which should have been hers as part of the divorce. One has to assume that that division of assets is acknowledge enough for her mothering of the 3 kids.

Doesn't sound like she was hurting too much without the support payment......

 

[Kilgore Trout]

I wonder how long alimony lasts because these people aren't young. He's 62 and she's 61.

Say he retired at 65 and his income dropped by 75%. Would he have to keep shelling out to her till all his money runs out.

 

[tboy]

I wonder how long alimony lasts because these people aren't young. He's 62 and she's 61.

Say he retired at 65 and his income dropped by 75%. Would he have to keep shelling out to her till all his money runs out.

That would be a resounding yes. Unless he went to court and proved that his net worth had dropped so badly that he could no longer support her in her current lifestyle. Even then I don't think the alimony amount would drop.

There was a case in the Star recently where an aerospace engineer lost his job (laid off) and was living in his parent's basement (at 55 no less) because he couldn't afford to live anywhere else. To top it off, every month he was behind in payments ($37,000 a month I seem to recall) he got hit with late penalties that amounted to more than he made in 6 months. Now my memory could be off on the numbers but they were up there.

I remember also that the wife "couldn't work" due to back problems yet had no medical proof that she couldn't yet she had no problem volunteering at charity drives every week or something like that.

Moral of the story is: don't get married EVER

 

[tboy]

In this particular case I think it's fair...she stayed at home, looked after the kids, married for a few decades and he decides he wants a divorce...

Actually it doesn't say (does it?) if he, she, or if it was mutual. But for the record, 7 million is a pretty good lifestyle....least it's a little better n mine lol....

This reminds me of that mahattanite who said she couldn't live on $175,000.00 a month with the rising cost of makeup artists, hair appointments, private drivers etc. It just wasn't possible!! lol....Oh yeah, and the high cost of hiring a limosine to take her to her $10 million dollar summer home on the cape...I mean, how was she expected to COPE with that paltry amount????

 

[WhaWhaWha]

I'll bet Johnny Carson would have called that a sweet deal.



Only 61 and lives in Toronto, eh?

****calling barber and tailor.


whawha goes a courtin... toniiiight

 

[rgkv]

I separated and commmenced paying spousal support approximently 6 years ago, after just over 10 years of marriage, she was a homeowner whose house I moved into, at first she contributed, as she also had some money, then working on and off over the first 8 or so years,
I married in my 40's, never made big money and certainly never improved the lifestyle of her first marriage and the life she was accustomed to living..
I find no way, other than her getting remarried, of me ever being able to stop paying, I believe once old age pension is my only source of income and provided hers is the same, my payments will be consided for reduction or the halting of payments...

 

[blopar]

They were married for 33 years, raised the children, and he is very wealthy.

Of course she is entitled to this.

 

[canada-man]

That would be a resounding yes. Unless he went to court and proved that his net worth had dropped so badly that he could no longer support her in her current lifestyle. Even then I don't think the alimony amount would drop.

There was a case in the Star recently where an aerospace engineer lost his job (laid off) and was living in his parent's basement (at 55 no less) because he couldn't afford to live anywhere else. To top it off, every month he was behind in payments ($37,000 a month I seem to recall) he got hit with late penalties that amounted to more than he made in 6 months. Now my memory could be off on the numbers but they were up there.

I remember also that the wife "couldn't work" due to back problems yet had no medical proof that she couldn't yet she had no problem volunteering at charity drives every week or something like that.

Moral of the story is: don't get married EVER

so based on one case you are against marriage

 

[canada-man]

i find it funny that the men's right types hate women who work to support themselves and don't have to depend on a man for survival (aka "career" women) but support women who don't work and living off the earnings of the husband and most likely have no job and career skills to live on their own which are the types are MORE LIKELY to ask for alimony which the men's rights types hate when they divorce

 

[lurkerjoe]

This is why my woman will be working as long as I'm working. No way am I going to let her coast AND then sponge off me if things go to shitters.

 

[diehard]

Whatever the decision, they're both wealthy.

Money is not a problem here, or is it?

 

[C Dick]

Carol Ann Elgner's lawyer Julie Hannaford says the amount reflects a growing feeling within the judiciary that spousal support has not kept up with the times. Hannaford said times have changed from the days when awards were thought of as keeping the heat and lights on at home.

They have moved on from keeping the heat and lights on, they have moved on to punishing men.

 

[K Douglas]

Let's say his pre tax income is $3.5 million. He gets to deduct the $1.3 million in spousal support for a taxable income of $2.2 million. Taxes on that (assuming a 66%/34% salary to dividend/capital gains income mix) is about $900K which leaves him with an after tax income of $1.3 million. Interesting, that's the same level as the total spousal support. But what is neglected is the $775K she already earns a year in investment income. Also neglected is the spousal RRSP in her name (I'm sure his tax accountant had him contribute the max amount every year to a spousal RRSP, rather than in his name).

This ruling is ludicrous. At the most it should have been approx. $60K per month in order to put her at an even taxable income level as him. If I were him I'd fire his legal team and appeal the decision.

 

[Cobra Enorme]

She can tack on another $1000 if she'll let me SIM

 

[Aardvark154]

Divorce Law in Canada seems to still be far more into alimony than in the U.S. which has largely moved to divorce settlements.

The heart of the matter is this: She was a full time homemaker for over three decades raising their three children. The Business her husband owned grew during the course of the marriage such that at the time of the divorce action he was receiving personal income of three to four million dollars a year. From the perspective of the court she enabled that growth.

Doubtless, he would have done better with a pre or ante-nuptial agreement. But he would not have gotten off inexpensively regardless, not after 33 years of marriage.

 

[S.C. Joe]

Checkout the New York Post, they been having about Tiger Woods everyday, yesterday they have about his wife being offer a 5 million signing bonuses and 80 million if she stays married to him for 7 more years!


Woods in game of money ball

The astonishing unraveling of Tiger's personal life also included these developments:

* Elin is reportedly being offered a "re-signing" bonus of $5 million to stay married to Tiger -- about half of what A-Rod got when he reupped with the Yankees. She'd get $80 million to hang with him another seven years.

Read more: http://www.nypost.com/p/news/nation...o_muzzle_LMaWw5CHOPFBwWgL1hb3LJ#ixzz0YqmPweP5