Under Florida law, courts determining alimony modifications must assess whether substantial changes in circumstances justify altering prior agreements. Courts are required to base their decisions on competent evidence and equity considerations. A recent Florida decision highlights the importance of detailed analysis and evidence when evaluating whether retirement can justify a reduction in alimony obligations. If you are involved in an alimony dispute, consulting a Miami family law attorney can help ensure your interests are protected.
Factual and Procedural Background
It is reported that the husband and the wife were divorced after a 21-year marriage, with the dissolution finalized through a marital settlement agreement (MSA) in 2020. The MSA divided their assets equally and required the husband to pay $7,500 per month as permanent alimony to the wife. At the time of the agreement, both parties were in their late sixties and had substantial retirement assets.
Allegedly, the husband retired in December 2021, selling his business interest for $900,000 and ceasing all employment. His income decreased significantly, with his sole income derived from social security and investments, totaling just over $7,800 monthly. His monthly expenses, however, were $18,682, including the alimony payments. The wife, who had deferred her social security benefits to maximize them, had no income other than the alimony payments and assets totaling approximately $1.8 million. The husband petitioned for a reduction or elimination of alimony based on his retirement and reduced income. The trial court denied the petition, finding that the parties had “contemplated” the husband’s retirement when agreeing to the MSA, and thus, his retirement could not be a basis for modification. The husband then appealed. Continue reading ›