Spousal Support Modification
The receiving ex-spouse can seek an adjustment if the payer’s income has risen substantially.If spousal support was ordered as part of the divorce Decree or Judgment, either party may have the right to seek modification of the terms so long as the award was not deemed non-modifiable originally. The receiving ex-spouse can seek an adjustment if the payer’s income has risen substantially. Conversely, the payer may be able to seek to reduce or terminate spousal support if the ex-spouse has remarried or achieved financial independence.
The massive new tax plan Congress passed late last year is going to have wide-reaching impact. Rates are set to change, new cuts take effect, and you may even be able to deduct your private jet. In short, sweeping transformations are in store. Its fingers will reach into all aspects of life, including divorce.
The new tax plan will have a variety of lasting consequences, and one area that will feel this the most is spousal support.