Alimony As Divorced In Florida Almost Retired – Spousal Assist Authorized Blogs Posted by Daniel Forrest
Posted on September 16, 2018 in the
Divorce, family law, spousal support
With Florida’s popularity as a retirement destination, one common question is how to organize alimony as the parties to divorce near retirement age. This is a complex question of some complexity.
First of all, the couple can negotiate a settlement agreement that includes a maintenance arrangement that suits their individual needs and which may be different from what a judge might consider. Obviously, they will take into account their age, employability, expected retirement age, retirement accounts, investments, and other assets. You could also take into account whether there is either a health problem or an age difference.
However, the payer’s imminent retirement may lead them to consider a lump sum advance payment, since, for example, monthly payment in the future without regular wages is not so easy. However, if the couple is wealthy, rather than opting for maintenance, they could adjust their wealth or retirement account breakdowns to adequately support both spouses.
You can even structure the agreement in such a way that a benefit case is triggered when you retire, such as a lump-sum payment from an investment.
If a married couple approaching old age cannot agree on alimony or a similar alimony arrangement through property sharing, the disputed alimony issue would be referred to the divorce judge. Florida judges, of course, regularly hear cases of divorce from people nearing retirement. A spouse in such a proceeding must therefore be confident that he can demonstrate the needs of the person seeking spousal support and the ability or inability to pay for the potential paying spouse.
The Florida statutes set out certain factors to consider when making a maintenance decision, some of which are relevant to divorce at this stage of life:
Duration of marriage
Physical and emotional health
Contributions to marriage, including serving as a housewife or in supporting each other’s careers
Everything else that is “necessary to create justice and justice between the parties”
Because advanced training or work experience is usually not realistic, the judge will most likely consider either temporary (for a period of time) or permanent of the types of maintenance allowed under Florida law. Of course, in a permanent arbitration award, the court should weigh the advancing age of the payer’s spouse, taking into account the parties’ financial health.
Change in maintenance on retirement
If an aging couple does not have a reasonable understanding of future assistance under their agreement or court order at the time of divorce, either of them may ask a Florida court at retirement to change or waive their maintenance arrangements based on the changed circumstances.
Florida courts have ruled that one relevant factor in making an application for a change in alimony is that a spouse has reached an age at which he or she can access retirement accounts without penalty.
However, retirement alone may not be enough to convince a judge to change the alimony regime if the paying spouse has significant wealth.
Anyone facing a “gray” divorce near retirement should speak to a seasoned Florida family lawyer about these complicated questions.