How does a man once worth an estimated $10 million find himself broke, in divorce court, donning a jail uniform and begging his ex-wife for money? Well, with any luck, he wouldn't. But it doesn't seem that luck has been on the side of 72-year-old Ronald Miserendino lately.

After leaving his first wife and their six children on the east coast, Miserendino moved to Milwaukee. It was there that he met his second wife, Cynthia Son, when she came and applied for the job of his housekeeper. Within six months they were married and they had three children in four years. Wow, these kids moved kind fast.

In 2001, after 22 years of marriage, Cynthia filed for divorce and that's where Miserendino's problems seem to have began.

He refused to accept the service of his divorce papers, and with the help of his son, Mark, set out to secretly liquidate his company's assets and go underground.

The effort involved taking out a bank loan for $5 million, a $500,000 advance on the company's line of credit, and cashing in Treasury bonds worth more than $10 million, according to court records. Miserendino then gave the $5 million from the bank loan to his son. Mark got smaller cashier's checks and sent them to his father, who was secretly in Hawaii, where his company owned a house and two lots.

The divorce was granted and courts awarded Cynthia $5 million, but the money was gone.

In November 2005, after living with a girlfriend secretly in Hawaii and failing in an attempt at bankruptcy, Miserendino moved back to the mainland, where he was quickly arrested when his federal warrant showed up during a routine traffic stop. He is still awaiting sentencing.

Men receiving alimony want a little respect, says the title of an article in today's Wall Street Journal. Its been nearly 30 years since the U.S. Supreme Court ruled against gender discrimination with regard to alimony, and divorce experts say that fewer and fewer men are outright rejecting any talk of seeking alimony.

In fact, the percentage of alimony recipients who are male rose from 3.6% during the five years ending in 2006, up from 2.4%, in the previous five year period, according to the U.S. Census Bureau.

They say that percentage is likely to rise as more and more marriages feature a primary earner who is female. In 2005, which is the last year for which data is available, wives out earned their husbands in 33% of all families, up an incredible 28.2% a decade earlier.

Today's men are receiving alimony for the classic reasons that women traditionally do and did. The most common argument: They sacrificed their careers for the sake of their wives'.

Some feminists say that this shows progress of some sort. "We can't assert rights for women and say that men aren't entitled to the same rights," says famous feminist lawyer Gloria Allred.

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Baby Phat fashion designer Kimora Lee Simmons and entertainment mogul Russell Simmons broke it off two years ago in March 2006, but until recently neither had filed for divorce. They have however moved on, as Kimora has already been dating actor Djimon Honsou for quite some time.

Perhaps it was that fact that finally provoked Kimora to file for divorce on Tuesday in a Los Angeles court.

Kimora and Russell were married for seven years and have two daughters 8-year-old Ming Lee and 5-year-old Aoki Lee. It doesn't appear though that we'll be seeing any Britney vs. K-Fed style custody battles out of these two as in the papers filed she requested that Russell be granted, "reasonable child visitation ... accompanied at all times by the children's nanny and security personnel."

But what have they been doing for the past two years? Click here for more.

Terrell and Martina Grier's divorce proceedings should have taken 18 months or less. Instead, it took a little over four years. After shelling out years' worth of legal fees, both parties walked away with out a home or cars and drained their retirement accounts, according to court records.

Who's to blame? The courts, where the case was passed to two judges and at least 10 continuances were granted, surely didn't help. Terrell Grier says it is his ex's attorney that drew it out; Martina's attorney says it was actually Terrell. (Sounds like these two need some couples therapy.)

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We reported last week that Kevin Federline's attorneys were requesting Britney Spears (seen here, during the good old days) to cover her ex's legal woes — to the tune of $405,000. That's in addition to the $685,000 she owes her own lawyers. Ouch.

Spears has, in fact, been ordered to pay K-Fed's lawyer, Mark Kaplan, $375,000. Double ouch.

Better get back into the recording studio real quick, Brit.

We're wondering if this is fair. Yes, she initiated the divorce, but would Federline have sat quietly has the happy husband had she not filed? Well, maybe, if the bank account buffet was open 24 hours. Federline turned out to be the smarter (and saner) of the two...

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The high court has ruled: Heather Mills will receive close to $50 million from ex Paul McCartney.

Although previous reports had Mills considering appealing the ruling, this morning she told reporters she was, "so, so happy" with the outcome.

We would be, too.

The former couple's child, Beatrice, will also receive $70K a year, and McCartney will be responsible for nanny and school expenses.

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It appears that it’s Sir Paul McCartney’s turn to dance.

While the official judgment won’t come until Monday, British papers are reporting that the judge in the Paul McCartney/Heather Mills divorce saga has sent both sides a proposed ruling. It awards Mills a lump-sum payment of $50 million (£25 million).

True, $50 million is nothing to sneeze at, but the settlement will likely be viewed as a victory for McCartney. Mills had originally asked for $160 million, and the UK’s Daily Mail jumped the gun in Feburary by wrongly stating she would receive $108 million. McCartney’s fortune is estimated at about $1.64 billion.

Who’s singing “You Never Give Me Your Money” now?

When your marriage is falling apart, it's urgent to take steps to protect your credit. Divorce ends one relationship, but the one you have with your creditors goes on.

To avoid a drastic hit on your credit score, you need to act in order to weather a financial storm created by divorce.

Financial experts have documented that a woman's credit takes a bigger hit than a man's when a couple splits up. Without a solid credit history in your own name, you won't be able to qualify for re-financing the marital home. And you're also likely to end up with high-interest credit cards and auto loans. Consumer financial guru John Ulzheimer makes the following useful suggestions:

* Pay up joint debts and cancel joint credit cards after you get a card in your own name.

* If joint debts can't be paid off, freeze those accounts so that neither you or your ex can run up more debt.

* If you're merely a credit card user on your spouse's card, remove your name.

* The family home should be sold unless one of you is able to buy out the other by qualifying for a new mortgage.

* Vehicles should be re-titled in each spouse's name, and car loans would have to be paid.

* If your ex is assigned to pay debt and fails to do so or pays late, place the shared accounts online so both of you can verify if the debt is being paid.

* If either of you is unable to pay the monthly bills due to job loss or illness, communicate with creditors to work out an arrangement. Unpaid joint debt will be reported to the three national reporting agencies resulting in lower credit scores.

I think it's good advice to take these precautions to protect your credit. Women especially benefit from these steps. Remember, regardless of a divorce, if there is joint debt — a mortgage, car loan or credit card — you're both on the hook to pay it off.

Former Baywatch hunk David Hasselhoff has won a court order to return to his family home to retrieve certain possessions that were apparently worth, to him, an extra few visits to court.

So, what couldn't the Hoff live without?

Among the items listed were: an antique barber's chair, an ivory tusk, a statue of a dolphin, a model elephant, and some baseball memorabilia. I guess he already has his Baywatch float in his new digs.

Hoff and his ex Pamela Bach's divorce was settled in December, tying up loose ends like spousal and child support, and custody issues of the couple's two daughters. The two share custody, though any monetary details of the split were not released.

I suppose this is just more evidence of boys becoming rather attached to their toys.

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(Photo: AP)

Most of us at some point in time have heard the horror stories surrounding child support payments and alimony. You may have experienced it first hand, or perhaps a friend or loved one has become exasperated trying to collect money that is owed to them. But now a recent poll conducted by GFK Roper gives us a better picture of just how many people are affected by lack of support payments.

The poll showed that 24 percent of divorced Americans are supposed to be receiving child support payments, but only a handful of people are actually getting the payments. Only 25 percent of people who are supposed to be receiving alimony actually got the entire amount, 29 percent didn't receive any amount at all and only 17 percent received a partial amount. Perhaps the even scarier statistic is that only 6 percent of people not receiving child support or alimony payments are actually fighting for their rights.

Something has to be done when only 6 percent of people not receiving money owed to them because of a divorce are able to stand up and ask for what they deserve. There may be a few reasons why this is so. I know of a few people who have decided not to go after their ex-spouse because they know their ex does not have the money the court has ordered them to pay. However, this rarely seems to be the case.

Instead, there is a prevalent belief that either the court will not be able to make the ex-spouse pay, or more commonly it is too expensive to go to court in the first place. Because they are not receiving support payments in the first place, many people in this position can't come up with the money to pay for additional court costs and lawyer fees.