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Millionaires locked in conflict over child support

Dallas residents may be interested in a child support case between two millionaires, a woman, and her five-year-old child. The two millionaires, one of whom is a prominent Wall Street financier, and the other a former bank executive, have each shared a romantic liaison with the woman, one of which produced the child who is the focus of the child support controversy.

The romance between the woman and the Wall Street financier evolved into an engagement which was broken shortly before the child was born. The break-up was reportedly a mutual agreement that ended on amicable terms.

Since that time, the woman has begun a romantic relationship with another millionaire, the bank executive, while becoming entangled in a court battle for child support payments from the child's father. According to the documents filed, it is alleged that the woman has received millions of dollars in gifts and other bestowals from her current lover, but both are attempting to falsely label these gifts as loans in order to allow her to receive more than $50,000 per month in child support cash and benefits.

To complicate matters further, the woman has moved, with her daughter, to Hong Kong where she now claims residency in an upscale residential area in which her monthly rental payments are $26,000, which are paid by the woman's current lover who claims that these rental payments are a loan. In addition, the father asserts that the woman has received more than $3.5 million in cash gifts which were also labeled as a loan by the woman and her lover.

This case is a good illustration of the loopholes that, unfortunately, do exist in matters of child support and custody. With the lack of accountability and transparency requirements that exist in current legislation that pertains to family law, it is easy for one parent to file false or misleading financial statements that do not accurately reflect the level of need from the other parent. Also, the ease with which the case was transferred to an entirely different country is an area of concern, especially to non-custodial parents.

The normal discovery process should allow for the production of bank records and other financial statements to show the influx of cash for the mother, but it is difficult to prove that the money was not a loan, especially since loan documents can be easily drawn up and not enforced. Because of the complexities involved in a case such as this, an attorney who specializes in divorce and the issues relative thereto may be able to provide the best level of counsel and representation.

Source: The New York Times,"Millionaries Clash Over Socialite's Child Support Claims," Peter Lattman, April 25, 2013 

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Bruce Turner

In addition to his law degree, Bruce Turner has a master's degree in tax law and is Board Certified in Commercial Real Estate Law by the Texas Board of Legal Specialization.

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Attorney Bruce Turner is located in Dallas and represents people and businesses throughout DFW and the Metroplex, including Denton, Carrollton, Lewisville, Flower Mound, Farmers Branch, Irving, Las Colinas, Corinth, Highland Village, The Colony, Plano, Frisco, Allen, McKinney, Mesquite, Grand Prairie, Garland and Grapevine as well as Collin County, Denton County and Dallas County in Texas.

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