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Actor James Caan's divorce will be a costly one

There are many people who dream of one day being on the silver screen and making a name for themselves -- not to mention a good living. Unfortunately, there is often a downside to fame and fortune; marriages in the celebrity world often end in divorce. Many families in Colorado are likely familiar with who James Caan is, but they may not be aware that the actor is in the midst of his fourth breakup.

Mr. Caan will be taking on another role that may be one of his most challenging -- that of provider of both child support and alimony. While the actor has been down this road before, he may not have been required to pay quite as much as this divorce will cost. It was not reported whether he paid alimony in the past, but his most recent dissolution comes with a hefty price tag.

According to the settlement agreement, Mr. Caan will be paying a lump sum support payment to his former wife retroactively for approximately $400,000. In addition to this amount, the couple will be dividing other assets. The former husband will also be paying an estimated $5,000 per month until his ex wife either marries again or either of them dies. He will also be paying child support for his youngest son for more than $3,000 per month until the boy graduates from high school in another year.

The actor is retaining possession of the majority of his collection of fine art along with some other holdings. Divorce is never an easy process to go through, and it often takes an emotional toll in addition to a monetary price. Those individuals in Colorado who are facing these issues may consult an attorney in order to pursue an equitable and comprehensive settlement. 

Source: allmediany.com, "James Caan Will Pay a Lot to Settle His Divorce", Laura Tucker, Dec. 22, 2016

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