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Child support battle among unmarried millionaires continues

Although the trial did not occur in Missouri, Missouri residents may be interested in a case that could put Linda Evangelista into the A-list arena of stars who receive more than $40,000 per month in support payments. Ms. Evangelista and her former billionaire lover, Francois-Henri Pinault, have ended their child support dispute in an undisclosed settlement, according to reports.

The couple dated for four months in 2006 and Mr. Pinault declared they spent only seven days together during those few months. He did not legally acknowledge his son with Ms. Evangelista until 2007. She filed court papers in 2010 requesting child support. At first she wanted to pay all of the child's expenses, however apparently changed her mind after a few years. Mr. Pinault's attorney said the billionaire agreed he should pay a fair and reasonable amount for child support, but what she was asking for was ridiculous.

Court papers filed by the supermodel claimed she was spending roughly $46,000 per month to care for the boy, including a 24-hour nanny and armed bodyguards. The trial testimony prior to the settlement agreement included stories of high-flying lifestyles and finances. Mr. Pinault is the CEO of PPR, which owns Gucci and Yves St. Laurent among other high-fashion brands, and his family is estimated to be worth $13 billion according to Forbes.

Ms. Evangelista was scheduled to continue her testimony this week but negotiations over the weekend produced an agreement ending the need to continue the trial. The child support agreement will be submitted to a court magistrate for final approval. According to Mr. Pinault's attorney, everyone is glad an agreement could be reached and both sides are not disclosing the details of the agreement.

The majority of child support cases are not quite as contentious as this one, nor do they involve a half million dollars in annual child support payments. However, determining child support can be a rather tricky endeavor if both sides are not open with their incomes and expenses. And a change in circumstances for either parent can further complicate negotiations.

A child support attorney can be advantageous in ensuring you receive a "fair and reasonable" settlement in your case. A family law attorney can also assist you in modifying existing support agreements, including alimony, spousal maintenance and child support.

Source: 660 News, "Linda Evangelista, French billionaire settle NYC child support fight over son, 5," Jennifer Peltz, May 7, 2012

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