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Posted on in Divorce

CA divorce lawyerAccording to the Center for Retirement Research at Boston College, 50 percent of retirees will run out of funds before during retirement. For many, this means that they will have to rely on family, go back to work, sell their home, or apply for government assistance. None of these options is ideal, and having to pay costly spousal support is one way to quickly drain your retirement funds, putting you at risk of falling short in your latest, most vulnerable years. Similarly, if you are receiving alimony and can no longer work due to advanced age or forced retirement, it is in your best interest to request a modification for an increase in spousal support. A San Jose spousal support modification attorney can modify your alimony payments to more accurately reflect your new financial situation whether you are the receiving or paying spouse.

Retirement Must Precede the Modification Request

Alimony (spousal support) can be modified whenever there is a substantial, continued change in circumstances for either party. This goes both ways; the paying spouse can request a modification if the receiving spouse’s income rises dramatically, and the receiving spouse can request a modification if the paying spouse’s salary increases. But how does retirement fit into this? As the paying spouse, the modification request must be made after retirement, not before or even the week before. A modification request needs to be in reaction to changes in circumstances (your retirement) that have already occurred, not for something that is expected to take place in the future.

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