Savings component


#1

If those circumstances were considered when the court made its initial alimony decision, it would not be a basis to modify the order now. If these are new facts that the court did not previously consider, they my use it as a basis to modify.

In order to modify an order for alimony, the court must determine that something substantial has changed from the time the last order was entered, not simply that the amount of money the court awarded was not sufficient based on expenses that existed at the time of the initial award.

Helena M. Nevicosi
Attorney with Rosen Law Firm

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#2

The Final Orders in my case specified a certain amount for me as a “savings component”. During the marriage, income was set aside for investment and saving purposes. I was granted only a small fraction to be classified as such and the only way I have any “savings” is for what is left of my assets to produce income. I have no extra income to invest and in fact, must use practically every cent of income I have just to live. With depletion of assets, I am having to use what the assets produce just to pay my taxes. My “expenses” were based solely on the amount of allowance I received from the ex during the marriage and the judge ignored the total amount of income. Therefore, the ex walked away with practically all of his income and the ability to save and invest just as much or more than “we” did during the marriage. Because I lived a frugal life, I have been condemned to live it forever. The amount of the allowance was only about 1/4 of the total income, but any other monies spent (cash paid for everything…no debts) was completely ignored. Would the inability to save be a substantial change of circumstances since savings and investments were such an integral part of my standard of living? I pretty much live month to month now with payments all over the place while the ex got off losing about 10% of his income with the ability to amass substantial extra assets which will only serve to increase the income disparity over time.