If you’re a Florida resident who’s paying durational alimony or permanent alimony (which is no longer legal for new divorces) to your spouse, you may be growing concerned as you get older about what will happen when you retire. Many people wonder if they will even be able to retire if they have to continue to pay support to their former spouse.
The good news is that the amount of alimony is always subject to modification if circumstances warrant – and retirement is often one of those circumstances. Under Florida law, if someone seeks to modify their support order so that they can leave the workforce, the court will consider whether they will be at the “normal retirement age as defined by the Social Security Administration or the customary retirement age for his or her profession.” It will also consider the payor’s “motivation for retirement and likelihood of returning to work.”
For example, people who work in relatively sedentary jobs are more likely to work until they reach Social Security’s “full retirement age” than those with more physical occupations whose bodies may be giving out and who may need to retire a few years before that.
Other considerations by the court
If the person paying alimony seeks to modify or end their support due to retirement, the court will consider their other sources of income, such as investment income and Social Security, VA and other benefits when determining what, if anything, they can reasonably afford to continue paying. They’ll also consider the value of their assets.
The court will also consider what other sources of income, as well as assets, the recipient spouse has and what effect an end or modification to their alimony will have on their life and ability to support themselves.
Note that Florida residents can’t file a modification petition more than six months ahead of their planned retirement. If you can see retirement approaching, however, it’s smart to start planning how you’ll present your case for modifying your alimony order before that six-month window opens. Getting legal guidance as soon as possible is a good first step.