Tennessee law case summary on income determination and deductions for income determination of a business owner under Tennessee divorce and family law from the Tennessee Court of Appeals.
Presson v. Presson – Tennessee Child Support Case Summary – forrestry services business
Michael and Joan Presson were married in September of 1974. They had one child. Mr. Presson sued for divorce in 1991, and the Pressons entered into a Marital Dissolution Agreement (MDA) three days after the divorce complaint was filed. The MDA set Mr. Presson’s monthly child support obligation at $700. Mrs. Presson subsequently consulted two attorneys before retaining a third in an attempt to invalidate the MDA. The parties entered into an Amended and Re-stated MDA in July 1991. This second Agreement provided that Mr. Presson was to pay monthly child support of $800.
In June 1992, the Mrs. Presson filed a petition to set aside the final decree regarding the child support. At an evidentiary hearing in the trial court. Both parties presented expert testimony touching upon Mrs. Presson’s mental and emotional state during the period of negotiations leading up to the execution of the Amended and Restated MDA. The trial court entered a nine page order on June 18, 1993, in which it denied the Mrs. Presson’s Petition to Set Aside Final Decree, but increased her child support entitlement to $1,000 per month plus $300 per month to be placed in an educational trust fund. Continue reading