Texas fans of Terrence Howard might expect that his various roles in major productions have left him with a sizable disposable income. This is not the case, however, according to the “Hustle & Flow” star. Howard recently suggested that he was unable to afford the $325,000 alimony payments to his former wife to whom he was married for only one year.
According to the actor, he provides all of his income to his first wife. The couple was married for 14 years. The money supports the woman and the former couple’s two minor children, and she reportedly provides him with a relatively low $5,878 remainder monthly.
Howard alleges that his agreement with his most recent wife was signed under duress. Reports say that he is currently under a 300-yard, three-year protective order from the woman after signing a court agreement in relation to an alleged domestic abuse incident. Although he signed the agreement, Howard did not admit liability.
As this case shows, some high net worth individuals may face some difficulty meeting divorce settlement mutinous obligations. However, those people might be able to file a motion to modify or cancel alimony based on changes in their financial situations. Other changes to a standing divorce settlement might also be pursued. An attorney could provide a client with advice and guidance throughout the process of questioning the validity of a standing settlement agreement. For example, as in Howard’s case, if the document may have been signed under duress, the contractual obligation might be invalidated. An attorney might also be able to help a client draft an equitable settlement agreement during negotiations with the other party.
Source: Daily News, “Terrence Howard says he can’t afford spousal support for ex-wife, only makes $6,000 a month: report“, Zayda Rivera, July 28, 2014