If you have recently gone through a divorce, it is possible that one of your monthly expenses includes alimony payments to your former spouse. Alimony is ordered for the purpose of equalizing any financial inequities that exist when the divorce is finalized. The alimony payments may be ordered temporarily in order to help your spouse work toward financial independence in the future.
Whatever the reason for the alimony order, a change in circumstance could mean that you will be able to take action to lower the alimony obligations that you are paying. The following are the most common reasons for alimony modifications.
The loss of a job
If you suffer the loss of a job as the payer of alimony, your disposable income is also going to suffer. You can take immediate action to modify your alimony payments if you become unemployed; however, it is likely that you will need to resume payments when you gain employment again.
If your former spouse cohabits with a new partner, this will mean that their financial needs will be reduced. Due to this, you can take action to lower your alimony payments due to this change in circumstance.
A decrease in financial need
If your former spouse lands a new job or their financial situation otherwise changes, you may believe that they no longer require alimony. It is possible to modify alimony if it can be shown that there is a decrease in need.
If you have experienced a change of circumstances as a divorcee paying alimony, it may be possible to decrease your alimony obligations. Make sure that you understand the way that the law can help you.