Alimony Payments May be Modified by Retirement

If you are forking over a huge alimony payment every month and it’s causing you to question whether you can afford to retire, you will be happy to know that the Florida legislature has made spousal maintenance modification an option for you at retirement age. While there are a number of factors that must be weighed, it is certainly something worth investigating.

Alimony in Florida 

if they make the case that they require financial assistance, spousal support may be available to lesser earning spouses of either gender in Florida. While it is generally ordered for just a few years, each case is unique and considered on its own merits. The length of the marriage will have a significant impact on eligibility for maintenance. The court will also consider each individual’s reasonable needs, ability to work, standard of living, and more. It may also consider any adultery if it had a financial impact on the marriage. Alimony might be paid in a lump sum, or in monthly installments. There are currently four types of alimony, or spousal maintenance, that can be awarded in the state of Florida:

• Temporary: Ordered to support a lesser-earning spouse after a divorce is filed but before the divorce is finalized;
• Bridge-the-gap: Available only for two years or less, and intended to address immediate costs during the transition to single life;
• Rehabilitative: Available for up to five years, this support allows a lesser-earning spouse to develop skills, training, and abilities in order to become self-sufficient;
• Durational: Available for varying amounts of time depending on the length of the marriage, this support is for a lesser-earning spouse who may struggle to be self-sufficient due to disabilities or obligations to care for a disabled child.

Retirement 

There’s no question that retirement usually means a reduction in income.  The Florida legislature has addressed the issue of alimony by saying that the amount of support may be reduced, or even eliminated, when a payor retires, assuming they are of retirement age.  What is that age? It’s whatever is considered customary in the payor’s profession, or the age specified by the Social Security Administration. When determining whether a modification is appropriate, the court will consider a number of factors, including the needs of the recipient, the reasons for the retirement, whether the payor will work again, and more.

Is Modification in the Cards for You? 

If you are hoping to modify, or even eliminate your alimony responsibilities, you will need to demonstrate the need to make a change.  At WiseLieberman our Boca Raton family attorneys will fight to get the best possible outcomes for you. To discuss, schedule a confidential consultation in our office today.