Wendell v. Wendell
A court can credit the opinions of experts that a start-up company that grossed $25 million prior to the recession currently is valued at $0. In 1997, the parties married in Las Vegas. During his senior year of high school in 1989, the husband start-up lawn business had three workers, and it grossed $50,000. In 1995, he began to work on golf courses and other projects. The husband started his work day at 5 a.m. and kept working until night. He worked on the grass at Yankee Stadium and performed work for Donald Trump and Mayor Bloomberg. The husband had 120 employees and his business grossed $25 million prior to the recession. Bank of America obtained a judgment and placed a judgment lien on the husband's ownership interest in the residence. The husband managed to reduce the debt owed to the Bank of America from $1.4 million to $185,000. In 2011, the husband had 26 employees and his business grossed $9 million. Experts valued the husband's business at $0. The plaintiff wife, who worked as a homemaker and volunteer during the marriage, currently earns $220 gross per week, working as a receptionist. The court ordered the husband to pay unallocated alimony and child support of $1,700 per week, until the wife's death, marriage, cohabitation or Dec. 10, 2022, whichever takes place first. The court granted the wife permission to earn up to $40,000 per year as a "safe harbor," before the wife's earnings may constitute grounds for a modification of alimony. The court ordered the husband to maintain $250,000 in life insurance, and to name the wife as the beneficiary, as long as he is obligated to pay support. The court ordered the husband to pay tuition for the parties' children. The court ordered the parties to sell the marital residence and awarded the wife 60 percent of the net proceeds of sale. Any arrearages owed to the wife from the pendente lite support shall be deducted from the husband's proceeds. The court awarded the husband his business interests and ordered the husband to hold the wife harmless from debt.