Changes in Income and Post-Divorce Modifications

 Posted on November 03,2023 in Divorce

The financial circumstances of both parties influence divorce settlements at the time of divorce. However, life is often unpredictable, and changes in income can occur post-divorce. In such situations, post-divorce modifications may become necessary to correspond with the shift in financial status, potentially affecting issues such as spousal support, child support, and other financial obligations. If you believe post-divorce modifications may be relevant to your situation, do not hesitate to contact a divorce lawyer. They will examine your situation and advise you on the most advisable course of action at this time. 

Understanding Post-Divorce Modifications 

Post-divorce modifications allow people to seek changes to court-ordered financial obligations when there has been a sizable change in circumstances. Changes in income, whether due to job loss, promotion, or other factors, may warrant modifications to spousal support, child support, or both. These modifications are typically sought through the court system and require demonstrating a substantial change in financial circumstances. 

Modifying Spousal Support

When there is a change in income, either the paying spouse or the recipient spouse may seek a modification of spousal support. If the paying spouse’s income decreases, they may request a reduction in spousal support payments. On the other hand, if the recipient spouse’s income decreases, they may seek an increase in spousal support. The court will consider numerous factors, such as the reason for the change in income and the financial needs of both parties when deciding whether to modify spousal support. 

Securing Legal Assistance

Navigating post-divorce modifications can get complex, and it is essential to seek legal assistance when facing changes in income. An experienced divorce lawyer can guide people through this important process, help gather necessary documentation, and advocate for their interests in court.

Contact Joliet, IL Divorce Attorney

Changes in income can significantly impact many areas of your divorce. Understanding the concept of divorce modifications and proactively seeking legal guidance when facing changes in income is important to help ensure fair and appropriate adjustments to court-ordered financial obligations. If you believe seeking a post-divorce modification is relevant to your situation and in your best interest, contact the respected Plainfield, IL divorce lawyers with Law Offices of Tedone and Morton, P.C.. They will discuss with you your situation and the best options for you going forward. They have a robust understanding of Illinois divorce law and how it affects your situation. To obtain the guidance you need and deserve, call 815-666-1285 for a free consultation today.