Las Vegas Sun

October 21, 2014

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Ex-wife of Las Vegas millionaire awarded $420,000 lump sum in divorce

CARSON CITY — The Nevada Supreme Court has handed the ex-wife of late Las Vegas millionaire Milton I. Schwartz a $420,000 victory.

The court ruled that Abigail R. Schwartz is entitled to collect her alimony payment in one lump sum instead of the way it was divided in divorce proceedings that called for $5,000 a month for seven years.

Schwartz, who helped build the Flamingo Hotel and was a founder of Valley Hospital, died about seven months after the divorce at the age of 85 in 2007.

The estate of Schwartz had been fighting with Abigail Schwartz over the alimony payment.

Before ruling, the Supreme Court had ordered Family Court Judge T. Arthur Ritchie Jr. to analyze Abigail Schwartz’s age, health and life expectancy in determining if a lump sum should be paid.

Court documents showed Schwartz was worth $39 million at the time of his death, and his income was $4 million a year. Milton Schwartz was also owner of taxicab companies and real estate.

The couple was married in 1993, when she was 41 and he was 71. According to records, they lived a lavish lifestyle until their divorce in 2007. Schwartz died seven months later.

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  1. I love Nevada, he got off cheap! Anywhere else, his estate would be paying big bucks for nothing.

  2. I'd say she got the shaft.

  3. You gotta give credit to whoever wrote the pre-nup for this. She got only 10% of one year's income for a total settlement, never mind if it was in monthly payments or not. That guy was a genius.

  4. God only knows what Abigail Schwartz had to endure on a personal level. My heart goes out to her. She certainly got the shaft on this settlement. May she invest this money wisely, and may it help her in the future.

    Blessings and Peace,
    Star

  5. everyone seems awfully presumptuous. She was awarded a lump sum for future alimony. The article speaks nothing of what she received in terms of assets in the divorce. Get lives people.

  6. That's only $30,000/year gross, not including room & board. At least she's still got daylight.