CS & Alimony as a % of Income

[tmurphx5]

My jurisdiction is: Massachusetts

Hello, I have been divorced for 6 years. My Ex got 50% of all assets (fairly significant $$'s) and custody of our son who is in high school and likely to go on to college. The Marital Separation Agreement states that my ex gets 35% of my annual income and bonus (if any). The last monthly sum was roughly $3800, 2/3 of which is for CS and 1/3 for alimony. My ex does not work, although she is a qualified nurse. As the agreement states that CS and alimony payments are a percentage of my base income my ex has insisted that the monthly sum be increased each year when I got pay increases. I had no problem with that and increased the sum annualy and have never missed a payement.

Change in circumstances. I just recently lost my job (like so many others) and will receive a small severance package of which my ex and child will get 35%. I am agressively looking for a new job but it is likely to take some time and it's unlikely I will be able to get the same salary. I will be entitled to claim unemployment benefits but that will not even cover the $3,800 a month I currently pay my ex.

I have assets and savings I can draw on to pay my mortgage and health insurance for me and my kid and my ex has similar assets and savings as she received 50% of all assets.

However my ex is likely to still want the current $3800 and tell me to pay for it out of my savings. What are my options? Can I take the 'letter of the law' in the agreement and just pay 35% of my income (this would be unemployment payments until I get a new job). Or do I need to formally ask for a tempory adjustment??

Any and all input and advice welcome.

 

[Duranie]

Did you have an attorney when you divorced? How long are you paying alimony for? If you have lost your job you might qualify for a change in circumstance, at least for the child support. I would be asking for an adjustment. Boy the MA courts sure to stick it to NCP's don't they? If your ex needs money and she does not like the fact you are laid off, she can go get a job.

 

[tmurphx5]

Hi, thank you for your quick response. I did have an attorney but he isn't practicing anymore and I have moved to a different state, however I will likely get legal advice if/when I need to take the next step. As for alimony, here is the extract from the agreement "The alimony payments shall terminate upon the Wife's remarriage or death or the death of the Husband. However, retirement from full time gainful employment by the Husband may be considered a basis for seeking a modification/reduction/termination of alimony. The Husband's anticipated retirement is on or about the age of 65 years. The parties shall attempt to discuss and mediate between themselves and resolve this issue by agreement prior to initiating any court action."

I sill have 7 years to go before 65 but maybe the current economy and job loss will force me into early retirement?

Thanks for the input on CS, sounds like there may be some room for negotiation on that. Are alimony payments negotiable based on the fact they were also supposed to be a % of my income? This change in circumstances for me may have her consider getting a job but only if it means an change in circumstances for her and she is only likely to do this if someone, a judge or her own attorney, tell/suggest she does so.

Thanks again.

 

[Grover]

yes i just think about this..