Can Inflation Impact Alimony?
Inflation refers to the rising cost of goods and services over a prolonged period of time. Inflation is the reason Floridians pay more for everyday items such as gas, food, and housing than they did just a few years ago. While many people face the rising cost of inflation every day, they do not realize that it can also impact their divorce case.
Alimony, also referred to as spousal support in Florida, is intended to provide financial help to a lower-earning spouse and allow them to maintain the same standard of living they enjoyed while they were married. Today, the cost of living is increasing because of inflation, and this can impact alimony in a number of ways.
The Impact of Inflation on Alimony
Again, inflation increases the cost of living, as everything becomes more expensive. This can make it more difficult to pay for items and services people use every day. It can also make alimony payments more difficult, with both recipients and payers feeling the pinch.
For example, a recipient of alimony may receive $1,000 a month. This amount may have been enough to cover rent and living expenses a few years ago but is no longer sufficient. This can add to their financial stress. People paying alimony can also be impacted by inflation. With everything costing more, making alimony payments may be even more difficult.
Can You Modify Alimony Due to Inflation?
When alimony is initially awarded, the court order is final and legally binding. However, this does not mean that it cannot be modified in the future. To modify alimony, you must show that there has been a substantial change in your circumstances. A family law judge may consider the impact of inflation on your situation and allow for a modification. You can ask a judge to modify an alimony order if either of the following apply:
- You pay spousal support and can prove that inflation has made it more challenging to make payments.
- You are a recipient of alimony and can prove that you need more to cover your daily living expenses.
Modifying alimony is very complicated. You need to collect strong evidence to prove your case and even then, the smallest mistake could result in an unsuccessful outcome. An Orlando modifications lawyer can help you through the process, prove your case, and ensure no mistakes are made so you have the greatest chance of success.
Call Our Modifications Lawyer in Orlando for a Consultation
As inflation continues to make everything more expensive, it can become harder to pay spousal support. It can also result in your current alimony payments not being enough to fully cover the cost of your everyday expenses. If you need to modify alimony payments, you need legal help. At Anderson & Ferrin, P.A., our Orlando modifications lawyer can provide it and help you prepare for the process so you know what to expect. Call us now at 407-412-7041 or contact us online to schedule a consultation with one of our experienced attorneys and to learn more about how we can help.
Source:
leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.08.html
