William C. Gentry, Attorney at Law
Call Today for a Free Initial Consultation
770-884-4171 888-365-5983

Marietta's Pre-Eminent Family Law Firm

Complex Legal Issues Deserve Bold, Intelligent Representation

Call for A Free consultation
Attorney

Pro-athlete lockouts kickstart support modifications

If members of the National Basketball Association get locked out from their jobs in June, reduced pro-ball incomes will be a harsh reality until the unions and team owners come to terms. Mindful of fragile big-money budgets, players' agents and lawyers are persuading their clients to seek court order modifications.

Modification for the court-ordered child support and alimony payments players make to ex-wives and for the care of biological children are necessary, according to celebrity divorce lawyers. They claim the NFL and NBA are industries like any other and, when players don't get paid, financial adjustments are unavoidable.

NBA players have a union-produced booklet of hints to get through lean financial times, including strategies devoted to dealing with child support and spousal support issues. One former NBA player, experienced with divorce and support issues, estimated that 80 percent of star athletes are financially obligated in some way to a support court order.

The financial trickle-down from the player lockouts makes sports players' legal advisors a little nervous. When players don't get paid, the fallout affects their pay, too. One experienced agent said a previous lockout forced him to ask for support modifications, which is part of the reason why he is pushing highly-paid athletes so hard about the issue.

While some players have money so well managed by professionals that support modifications may be inconsequential over the short-term, other players spend freely without thinking of the effects a large loss of income could make. Agents not only recommend court modifications now, but also advise players to sign prenuptial agreements that can help control money issues in emergencies like lockouts.

Source: San Francisco Chronicle, "NBA, NFL players' ex-wives likely to feel pinch," Scott Soshnick, 10 May 2011

No Comments

Leave a comment
Comment Information

Call Us When You Need Outstanding Legal Representation

Email Us For A Response

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Attorney
William C. Gentry, Attorney at Law

Office Location

William C. Gentry, Attorney at Law
506 Roswell Street SE, Suite 240
Marietta, GA 30060

Toll Free: 888-365-5983
Phone: 770-884-4171
Fax: 770-422-1347
Marietta Law Office Map