Alimony, otherwise known as spousal support, takes the form of payments made to one spouse during or after the divorce process. Generally the spouse receiving payments makes significantly less money than the other and, therefore, needs the alimony to remain financially secure. While most alimony payments have a set value that continues throughout a divorce, sometimes modifications to the payment amounts can be made either during divorce or post-divorce. There are a variety of reasons these modifications may need to be made, and depending on whether you are the paying or receiving spouse, getting this change may be critical.
Reasons for Modifications
There can be any number of reasons why modifications to alimony agreements might occur. For instance, some of the following may be cause for a change in alimony payments:
- Change of circumstances for one or both ex-spouses
- Financial increase for receiving spouse
- Financial depletion of paying spouse
- Increased cost of living
- Remarriage of receiving spouse
All of these situations could cause one spouse to either need a decrease or increase in payments. However, this change must be a legally binding one, so that both parties can rest assured that they will either get the payment they need or not pay more than they should. As such, it’s critical to have the support of a knowledgeable legal professional when seeking alimony modifications.
If you are paying or receiving alimony payments currently, but need a modification in these payments, our legal team at the Law Office of Andrew A. Bestafka, Esq., can help you understand what action can be taken and guide you through the necessary steps. Call (732) 898-2378 today to get the help you need when navigating through the alimony modification process.