When a person retires, it can significantly impact their financial situation. People often have a lower yearly income after retiring than they did while they were working. It may be harder for retirees to fulfill financial obligations such as loan payments or spousal support (alimony).
Spousal support is intended to help a former spouse maintain a similar standard of living after a divorce. However, when a paying spouse reaches retirement, they may experience a reduced income, making it difficult to continue making the same level of support payments. In such cases, it may be possible to request a modification of spousal support.
Grounds for modification
Retirement can be considered a substantial change in circumstances, which is one of the key factors that may justify modifying spousal support payments. To request a modification, the paying spouse must show that their income has significantly decreased due to retirement and that they are unable to continue meeting the current payment terms. It is important to note that simply wanting to retire is not enough. Courts will typically look at the timing and reason for retirement. If the retirement was voluntary and done in good faith, a spousal support modification request may be more likely to be successful.
The modification process
To modify spousal support, the paying spouse must file a petition with the court that issued the original order. The court will then review the financial circumstances of both parties, including the paying spouse’s retirement income and the recipient spouse’s needs. The court may adjust the support amount, either reducing it or terminating it, depending on the specific circumstances. However, it is important to keep in mind that the recipient spouse may also present evidence of their continued need for support.
Those facing retirement who are concerned about their spousal support obligations may benefit from seeking legal guidance. Legal support can help people better understand their options and help increase the likelihood of a fair resolution.
