Is It Worth Ending My Alimony Payments Early in Orlando?

Individuals tasked with paying alimony may be aware that they can “modify” their spousal support after the divorce. At first, this might seem like a positive move. After all, it always makes sense to avoid throwing away money. But is this move really worth the effort? To answer this question, you might want to meet with an experienced alimony lawyer in Orlando.

Consider the Fact that Permanent Alimony Is Abolished in Florida 

First, you should know that it is impossible to pay permanent alimony in Florida. Thanks to a recent change by Governor DeSantis, permanent alimony has been abolished. Now, short-term alimony is much more common – with many payment terms lasting just a few years. “Rehabilitative” alimony has also become quite common, and this type of spousal support only lasts until the receiving spouse becomes financially independent once again.

Because of these factors, your alimony will likely end soon. Because of this, you might have to consider whether it’s worth ending your alimony early or simply allowing it to expire. Suppose you only have two years of alimony to pay. Does it make sense to go through the stress of a modification in this scenario? Does it make sense to pay legal fees just to receive minimal savings? These are questions you might want to explore alongside an experienced alimony lawyer.

High-Net-Worth Spouses May Still Want to End Alimony 

With all that said, it might still make sense for some spouses to end alimony early. This is particularly true in the case of high-net-worth, high-income spouses tasked with paying considerable sums each month. In this scenario, ending alimony early could result in tens or even hundreds of thousands in savings. At this point, paying legal fees and going through a little bit of legal stress might make sense to experience these considerable savings.

Consider the Chances of Success 

Remember, success is not guaranteed when you petition to end alimony. The court could always reject your petition, and you might end up feeling like the entire endeavor was a waste of time. As a result, you might want to discuss your situation in more detail with a lawyer. This discussion could help you understand your chances of success.

If your chances of success are slim, you might want to rethink your goals. If the petition seems more likely to succeed, you might feel more confident about moving forward. For example, those who retire at an old age generally receive plenty of sympathy from courts. But if you decide to retire early and end your alimony payments, the court might view your case more dubiously.

Can an Orlando Alimony Lawyer Help Me? 

An Orlando alimony lawyer may be able to help you consider your options if you’re thinking about a modification. While it’s true that modifying alimony might help you save more money each month, you should carefully weigh the pros and cons before moving forward with this plan. The end of permanent alimony makes this less of a financial burden, and you might only need to wait a few years for these payments to end. Continue this nuanced discussion alongside Steve Marsee, P.A. today.

Sources:

 orlandoweekly.com/news/this-is-a-death-sentence-for-me-florida-republican-women-say-they-will-switch-parties-after-desantis-approves-alimony-law-34563230

wealthmanagement.com/estate-planning/big-changes-to-florida-s-alimony-law