Las Vegas Sun

January 27, 2015

Currently: 51° — Complete forecast | Log in | Create an account

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.

Join the Discussion:

Check this out for a full explanation of our conversion to the LiveFyre commenting system and instructions on how to sign up for an account.

Full comments policy

Previous Discussion: 6 comments so far…

Comments are moderated by Las Vegas Sun editors. Our goal is not to limit the discussion, but rather to elevate it. Comments should be relevant and contain no abusive language. Comments that are off-topic, vulgar, profane or include personal attacks will be removed. Full comments policy. Additionally, we now display comments from trusted commenters by default. Those wishing to become a trusted commenter need to verify their identity or sign in with Facebook Connect to tie their Facebook account to their Las Vegas Sun account. For more on this change, read our story about how it works and why we did it.

Only trusted comments are displayed on this page. Untrusted comments have expired from this story.

  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,

  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.