How do I modify my current alimony agreement so that spousal support payments change when one spouse’s income changes?
My wife makes $240,000 a year, and she has been the primary breadwinner in our marriage for over 12 years. Now that we have drafted a Marriage Separation document, she wants to modify the alimony agreement to say that if she loses her job, if her income significantly changes, or if my income significantly increases, both of us should agree on modifying payments. How do I insert that language into our documents? Here's the section: IX. SPOUSAL SUPPORT (ALIMONY).
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Here is what you could add to your alimony agreement to modify the spousal support arrangement:
IX. SPOUSAL SUPPORT (ALIMONY).
There shall be Spousal Support as part of this Agreement with Spouse B ("Paying Spouse") agreeing to make Alimony payments to Spouse A ("Receiving Spouse") under the following terms:
a.) Start Date. The Spousal Support shall begin on the 1st day of the first full month following the date the separation is finalized.
b.) Payment Schedule. Spouse B shall pay Spouse A $1,000.00 per month. This Spousal Support shall continue under the terms stated herein until either Spouse’s death, the remarriage of the Receiving Spouse, or further written agreement by both parties, or court order, whichever occurs first.
c.) Modification. The parties agree that if (i) Spouse B experiences a substantial decrease in income, including job loss, (ii) Spouse A experiences a substantial increase in income, or (iii) either party believes there has been a material change in financial circumstances, then both parties shall meet in good faith to negotiate a modification of Spousal Support. No change shall be effective unless agreed upon in writing by both parties or ordered by a court of competent jurisdiction.
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My wife makes $240,000 a year, and she has been the primary breadwinner in our marriage for over 12 years. Now that we have drafted a Marriage Separation document, she wants to modify the alimony agreement to say that if she loses her job, if her income significantly changes, or if my income significantly increases, both of us should agree on modifying payments. How do I insert that language into our documents? Here's the section: IX. SPOUSAL SUPPORT (ALIMONY).
Lexi, Chatbot
I understand your situation. Have you and your wife discussed these proposed changes to the alimony agreement?
Yes.
Lexi, Chatbot
Are you looking to modify the alimony agreement yourselves, or are you seeking legal assistance for this process?
I want to do it myself.
Lexi, Chatbot
Is there anything else the Family Lawyer should know before I connect you? Rest assured they'll be able to help with modifying your alimony agreement.
Adding restrictions to where our son can live, meaning we are not allowed to leave the state or the region where our son goes to school unless we both agree.
Legal Eagle
Hello! Legal Eagle here. I'm reviewing your issue in detail.
How do you envision the process of reaching an agreement on these modifications with your wife?
We have been talking about this matter for the last week. We talk over the phone, in person, and through text messages. We should be able to come to an agreement that is fair.
This is what we have thus far:
IX. SPOUSAL SUPPORT (ALIMONY).
There shall be Spousal Support as part of this Agreement with Spouse B ("Paying Spouse") agreeing to make Alimony payments to Spouse A ("Receiving Spouse") under the following terms:
a.) Start. The Spousal Support shall begin on the 1st day of the 1st month following the separation being finalized.
b.) Payment Schedule. Payment of $1,000.00 per Month and shall continue. No end date has been decided.
Hereinafter known as the "Spousal Support." The Spousal Support shall continue under the terms stated above or until either Spouse’s death, the remarriage of the Receiving Spouse, or modification or termination by further court order, whichever occurs first.
Legal Eagle
Ok thanks! Just a few more questions. What specific concerns do you have about the proposed changes to the alimony agreement?
Adding restrictions to where our son can live, meaning we are not allowed to leave the state or the region where our son goes to school unless we both agree.
Legal Eagle
Ok, thank you for adding that! Was there anything else before I answered?
We should each pay our own auto insurance once the divorce is final.
Legal Eagle
Here is what you could add to your alimony agreement to modify the spousal support arrangement:
IX. SPOUSAL SUPPORT (ALIMONY).
There shall be Spousal Support as part of this Agreement with Spouse B ("Paying Spouse") agreeing to make Alimony payments to Spouse A ("Receiving Spouse") under the following terms:
a.) Start Date. The Spousal Support shall begin on the 1st day of the first full month following the date the separation is finalized.
b.) Payment Schedule. Spouse B shall pay Spouse A $1,000.00 per month. This Spousal Support shall continue under the terms stated herein until either Spouse’s death, the remarriage of the Receiving Spouse, or further written agreement by both parties, or court order, whichever occurs first.
c.) Modification. The parties agree that if (i) Spouse B experiences a substantial decrease in income, including job loss, (ii) Spouse A experiences a substantial increase in income, or (iii) either party believes there has been a material change in financial circumstances, then both parties shall meet in good faith to negotiate a modification of Spousal Support. No change shall be effective unless agreed upon in writing by both parties or ordered by a court of competent jurisdiction.
Legal Eagle
X. CHILD RELOCATION RESTRICTION.
Neither party shall move the minor child’s primary residence outside the state of [Insert State Name] or more than 50 miles from the child’s current school district without the prior written consent of the other party. This restriction may be modified only by written agreement of both parties or by court order.
XI. AUTO INSURANCE.
Each party shall be responsible for maintaining and paying for their own auto insurance coverage upon the finalization of the divorce. Neither party shall be responsible for the other’s vehicle insurance premiums or liabilities after that date.
Thank you, and excellent work.
Legal Eagle
For sure! Were there any details I missed? Were there any concerns you still needed to be addressed?
Legal Eagle
Hello! I want to make sure ALL of your concerns were addressed. Did you have any concerns about this that still need to be addressed? I'm happy to help.
Legal Eagle
So I haven't heard from you in a while, but that's ok! I hope I’ve provided the information you were seeking. If you need more help, please let me know so I can continue to assist you.
Legal Eagle
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