Merv Adelson, 83, faces proceedings for unpaid child support in court. He is petitioning the court to reduce his current child support payment from about $20,000 per month to about $2,000. He has also faced court proceedings for falling behind in the payments.
Well known from New York to Los Angeles, Adelson is the former owner of Lorimar, the production company responsible for iconic television shows such as “Dallas” and “Knots Landing.” At the time, he was worth about $300 million. He lived the lifestyle of a Hollywood mogul, including a private jet, Malibu beach home and Aspen ranch. He was married to Barbara Walters from 1986 to 1992. Walters was Adelson’s second wife. He fathered two children with his third wife before they divorced in 2003. These children are still minors and the subject of the child support payments.
While Adelson was successful in the field of television production, he did not fare as well in the Internet. Much of his fortune was lost during the crash of the tech industry in 2000. He currently lives in a small studio apartment and works as a consultant for television production companies. He no longer possesses the jet, beach house or ranch.
Family law cases often involve divorce proceedings and child support. The issues may become clouded when the financial circumstances of any of the parties drastically changes. Anyone involved on either side of the case may benefit from the services of a family law specialist. The attorney may be able to advise the party as to the best options that may benefit the children both financially and emotionally.
Source: MailOnline, “Barbara Walters bankrupt ex-husband, now 83, in court for unpaid child support,” David McCormack, April 16, 2013