April 3, 2023
By, Diana Moyhi, Attorney At Law, New York Courts are not fazed by the significant amounts of wealth that are gained and lost in finance. Even a Hedge Fund Manager has to provide the proper proof to a court which would justify a downward modification of child support.
In a 2021 case the Court denied a Hedge Fund Manager’s request for downward modification of child support despite the fact that he showed the court that the Hedge Fund he was part owner of had collapsed See, Weinig v. Weinig, 198 AD 3d 470 [1st Dept. 2021]. In that case the Court’s reason for denying the Husband’s motion was that he failed to show that the collapse of the Hedge Fund had “substantially changed his circumstances or caused him extreme hardship” because he failed to provide proof to the court that he had diligently sought employment.
This was a newbie mistake which proves that Hedge Fund Managers also make mistakes in choosing lawyers. It important to choose an experienced divorce and family law attorney to represent you in your family law matters. You may contact Diana Mohyi Attorney at Law to learn more about this and other areas of a divorce and family law.