Can I Reduce My Florida Alimony Payment By Retiring?
As a result of recent changes to Florida’s alimony laws, it is now possible to reduce or even terminate one’s alimony obligation through retirement. The process of doing so can, however, be complicated, as it requires proof of “reasonable retirement.” Read on to learn more about the conditions that a person must meet in order to obtain approval for such a request.
What Qualifies as Reasonable Retirement?
In most cases, a person who is ordered to pay alimony must continue to do so until the recipient remarries or until the order expires. Many alimony orders, for instance, only last for between two and five years. It is also, however, possible to petition the court to reduce or terminate an alimony award before the expiration of the alimony order if the payor is entering into reasonable retirement. To qualify as a reasonable retirement for alimony purposes, a person cannot be retiring early merely in order to stop paying alimony. The petitioner must also be able to meet certain conditions, including reaching normal retirement age, which means that he or she:
- Has reached retirement age as defined by the Social Security Administration, or;
- Has reached the customary age of retirement for his or her profession.
In addition to this age-related requirement, the petitioner will also need to prove that he or she has taken demonstrative steps towards retirement or has actually done so and that retirement has reduced his or her ability to make alimony payments. When determining whether a person has met these requirements, a court will look at specific factors.
Will Retirement Reduce a Payor’s Ability to Make Alimony Payments?
Before a court decides to reduce or terminate alimony based on a payor’s retirement, it will assess a number of factors, including:
- The payor’s age and health;
- The type and nature of the payor’s employment;
- The customary age of retirement in the payor’s profession;
- The likelihood of the payor’s returning to work;
- The payor’s motivation for retirement;
- The payee’s financial needs and resources;
- The parties’ assets and incomes; and
- The payor’s compliance with the existing alimony agreement.
How these factors play out in a particular case will determine whether or not a court approves a petitioner’s request to reduce or terminate alimony upon retirement. Call today for an assessment of your own chances of filing a successful alimony modification petition based on retirement.
Contact an Experienced Florida Alimony Attorney
If you are considering retiring and have questions about how that could affect your alimony obligations, we can help. Call us today to speak with dedicated Florida alimony lawyer Sandra Bonfiglio, P.A. about petitioning the court to modify your alimony award. You can set up a consultation by calling our office at 954-945-7591 or by completing one of our brief online contact forms. A member of our legal team is standing by and eager to get started on your case right away, so don’t hesitate to reach out to us by phone or online message at your earliest convenience.
Sources:
flsenate.gov/Session/Bill/2023/1416/BillText/er/PDF
news.wfsu.org/state-news/2023-07-02/a-new-law-puts-an-end-to-permanent-alimony-in-florida
