Unemployment and Alimony reduction


#1

I have been unemployed for over 6 months but continue to pay CS and alimony. In our Sep Agreement, it states that if my income is reduced by more than 20%, then the parties shall attempt to renegotiate a future reduced amount of alimony solely for the period of any future decrease. If the parties are unable to agree within thirty days, the matter solely of the amount of alimony shall be submitted to arbitration. The expense of CS and alimony far outpaces the unemployment benefits I receive, and I am bleeding cash on a bi-weekly basis solely on these payments. My ex is working. My ex is already posturing that I will be told to withdraw money from my IRA to pay the alimony. It seems to me that this part of the agreement was done in good faith, but my ex and her lawyer are taking the stance that they don’t have to do anything. So my question is this: How does arbitration usually decide in these cases? I don’t have money to “waste” on arbitration if they will in no way rule in my favor.

Thanks.


#2

In my opinion you will not have to take money from your IRA to pay alimony. The agreements states that you will go to arbitration to have a NEW amount of alimony ordered, not to have a directive given as to how you should pay the existing amount.