My financial situation changed. What about alimony now?

Tennessee couples who have gone through a divorce will also likely have to deal with alimony payments. However, these payments may be modified in some cases to better reflect your current financial situations. Rogers, Shea & Spanos, attorneys at law, are here to explain more.

Alimony payments are made either through negotiation or the decision of a judge. Regardless of which path you take to get there, the same sort of factors will be examined. How much money are you and your spouse bringing in? Do either of you have any recurrent financial drains to keep in mind, such as chronic medical conditions? Do either of you have secondary support, such as with a second household income?

The answer to these questions may change after the initial decision is made, however. This is where the ability to modify alimony arrangements comes in handy. Post-judgment modification of alimony payments can either increase the recipient’s payout, decrease a payer’s payment, or even completely get rid of the alimony arrangement altogether. Of the reasons to adjust alimony payments, some of the most common include changes in financial situations, mutual agreement to modify the arrangement, changes in living circumstances, and temporary modifications to accommodate for illness or job loss.

Has your financial situation recently changed, demanding a change in alimony payments to match? Consider speaking to an attorney who specializes in divorce and matters of support payments. They will be able to help you prepare to take your court to case. You can also click the above link here for more information.