A substantial change in income or financial status. Check with your attorney and state law about what constitutes a “substantial” change, but know that you can’t alter any payments because of standard cost of living increases or small changes in income or financial status (like getting a 2% raise or losing a small sum of money in the stock market). Substantial change means major life events like losing a job, a sharp increase in medical expenses, or a disability that affects your income.
Substantial changes in income work the other way too. A significant increase in income from a raise, a new job, or a booming business may also impact alimony and child support payments. A court will need to see proof of this substantial change in income or financial status, and your family law attorney can help you collect that proof. That means if you’ve experienced a significant financial hit or if your ex-spouse suddenly gained access to more income, you may be able to modify any existing alimony agreements in a way that benefits you.
You or your ex-spouse cohabitate with someone else. One clear way that alimony payments and even child custody gets modified is when cohabitation begins. A major reason that alimony exists is because a spouse presumably needs financial support because they are now on their own. Living with someone else who brings in an additional paycheck largely negates many of the reasons that established the original alimony payments. If your ex-spouse starts living with someone else, that’s a major opportunity for you to lower your alimony payments. And know that if you start living with someone, your ex-spouse may justifiably seek to lower the amount of payments they send you.
Children graduate from school, get married, or move out of state. Once a child moves out of the home, the primary custodial parent will naturally experience a change in lifestyle. After becoming an "empty nester," the spouse receiving alimony or child support will no longer have the burden of paying the additional expenses an extra body in the home requires. Depending on the amount of support being awarded, the spouse may still require alimony to support themselves, but a modification may be in order due to their change in lifestyle.
You need to remain vigilant about changes in your ex-spouse’s life so that you’re not paying more than your fair share, especially if your ex-spouse makes a lot more money or has a new significant other adding to the household income. If any significant changes take place in your life or your ex-spouse’s life that you think may present an opportunity to modify an agreement, call us for a consultation.