Some Connecticut residents may remember the tenure of Perter Orszag as a federal employee, first as an economic adviser to President Clinton and then as the Director of the Office of Management and Budget. Mr. Orszag later went on to become an executive with Citigroup, at a much higher salary. As a result, in 2012, his former spouse, Cameron Kennedy, filed court papers seeking an increase in child custody payments pertaining to their two children. The dispute was not resolved and the case went to trial on March 11.
Orszag and Kennedy had been married in 1997 and then divorced in 2006. A child support arrangement was agreed upon in 2008. As the child custody dispute unfolded, Kennedy sought to require that her ex-husband’s finances be made public. In late February of this year, a federal judge agreed, and Orszag’s attorneys filed the appropriate documents on March 9. It was disclosed that his income is expected to be just under $4 million in 2014. However his legal team has asserted that his ex-wife also has substantial income. They claim that, in 2013, her income was $350,000. They also assert that her liquid assets increased in value from $1.5 million at the conclusion of 2008 to $2.2 million at the conclusion of 2012.
Following Orszag’s divorce from Kennedy, he subsequently remarried in 2010. His engagement in 2009 to Bianna Golodrygna of ABC New was announced amidst publicity regarding his fathering of a child prior to that with a Greek shipping heiress.
Although laws governing child support may vary from state to state, an ex-spouse may often seek an adjustment in child support payments when financial circumstances materially change. Sometimes, a desire to change child support is resolved amicably, and in other cases the matter may go to trial.
Source: Politico , “Peter Orszag riches public in child-support trial“, Lucy McCalmont, March 12, 2014
