Monday, April 30, 2012 | 4:32 p.m.
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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