Money will bring a whole new set of problems into your life if you experience a divorce.

If you think that money buys happiness, or a little more money will solve your problems, I can assure you that more money will bring a whole new set of problems into your life if you experience a divorce.

Just ask Keith Lee and Lori Andochick of Frederick County, Maryland, who married in 1993, separated in 2004 and were divorced in 2007.   As a partner in the investment firm of Brown Capital of Baltimore, Maryland, Mr. Lee made $1,760,282 in 2006.  Dr. Andochick, a dentist, made $267,000 that year.

The Court awarded Dr. Andochick $10,000 a month in spousal support, $15,000 a month in child support for their two children, $2,200 a month in other costs for the children, a monetary award payable at $250,000 a year for five years and attorney fees.

Mr. Lee appealed the alimony award.  The Court of Special Appeals reversed the case.  The Court calculated the annual numbers on Mr. Lee like this:

Gross Income                         $1,760.282
Less Taxes                                ($762,282)
Less Debt Obligations             ($636,588)
Child Support and Alimony*  ($278,400)
Monetary Award                      ($250,000)

Total                                         ($166,988)

In other words, Mr. Lee would have had to borrow about $167,000 a year just to make ends meet and even then he would have nothing left over for food and personal expenses.  The Appeals Court found that the trial judge “did not do the math.”

* see comments

5 replies
  1. J Reisman
    J Reisman says:

    The Court awarded Dr. Andochick $10,000 a month in child support, $17,200 a month in child support for their two children, a monetary award payable at $250,000 a year for five years and attorney fees.

    Doesn’t seem correct:
    1. $10,000 a month in child support, and
    2. $17,200 a month in child support????

    (10,000 + 17,200) x 12 mo = $326,400

    Whis is the $278,400?

  2. admin
    admin says:

    The court subtracted the tax savings that Mr. Lee would get for the alimony payments:

    alimony = $120,000 x 60% = $72,000
    child support = $17,200 x 12 = $206,400
    total support = $278,400

  3. Friend
    Friend says:

    I have to say that Mr. Lee makes far more than $1.7 million a year. Dr. Andochick put her x through school and now he is a partner with a deferred compensation plan in place that does not show on the books worth multiple millions of dollars which the Dr. is entitled to. This is a travesty of justice and all women should be outraged that a bunch of old male appellate court judges made this reverse ruling.

    Mr. Lee made over $5 million a year before the divorce and has substantial assets worth millions. He does not take care of the kids at all, and Dr. Andochick does everything.

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