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Billionaire Lynsi Torres Pays 19K in Monthly Child Support

Posted By Attorney Jim Cairns || 13-Feb-2013

The heiress of the In-N-Out Burger chain, Lynsi Torres, has reached a marital settlement agreement with her now ex husband Richard Martinez. Torres has agreed to pay almost nineteen thousand dollars a month for child support to Martinez. This is in addition to the monies she will pay for private schooling for the twins.

Torres does not have to pay spousal support due to the fact that there was a prenuptial agreement signed. In regards to child support payments, it will cut off when one of the following conditions happens to the twins:

  1. Child marries;
  2. Death;
  3. Reaches the age of nineteen;
  4. Is emancipated; or
  5. Reaches the age of eighteen and not a full-time high school student.

The couple will share joint custody of the twins, Ella Jade and Silas Diego.

Her second marriage to Martinez, an employee of In-N-Out Burger, lasted from 2004-2011. In 2006 Torres became the mother of twins, one girl one boy. Currently, she is on her third marriage to race car driver Val Torres Jr.

Lynsi Torres is American's youngest billionaire and soon to become full owner, she only owns half now, when she reaches the age of thirty-five. Torres has been one to avoid the public spotlight and her recent personal life has become all the more intriguing due to her ability to avoid the limelight. Her general anonymity changed this month when Bloomberg Billionaires Index listed her for the first time.

Torres, age thirty-one, is the only grandchild of Harry and Esther Snyder. The Snyders are the founders of the original In-N-Out hamburger chain found in southern California and areas of the southwest. The current total comes out to 280 stores in five states. Currently, Torres is the sixth president (succeeding her brother-in-law, Mark Taylor) to preside over the company.

Her responsibilities go beyond being at the helm of In-N-Out Burger, she has also engaged in the world of philanthropy. She funds Healing Hearts & Nations (HNN). The non-profit builds training centers in India and Africa which trains local leaders. Training helps provide different forms of counseling to the underprivileged populations. In addition, Torres is actively involved with the company foundation which supports neglected and abused children. Some of the services the foundation supports include: emergency shelter, residential treatment, foster care and early intervention for children in need.