Can I Ever Retire? - PowerPoint PPT Presentation

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Can I Ever Retire?

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Learn more about spousal support in California - your rights as well as obligations - in this presentation. – PowerPoint PPT presentation

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Title: Can I Ever Retire?


1
Can I Ever Retire?
A Guide for Spouses Responsible for Paying
Alimony or Support
2
RETIREMENT AND ALIMONY
3
When you are required to pay alimony payments,
you may be obligated to provide monthly income
to your spouse
4
The amount of monthly income that you are
required to provide may be payable only as long
as you continue to work
5
This may result in concerns about WHETHER YOU
WILL EVER BE ABLE TO RETIRE
6
Retirement is Possible
7
  • Retirement is possible
  • even when you have support obligations

8
You cannot and will not be expected to continue
working for the rest of your life in order to
keep paying support after a divorce
9
Retirement and Children
10
If you and your spouse have children together and
you have a child support obligation, generally
retirement comes once the youngest child has
turned 18 or, if the child is in high school full
time, once the youngest child has turned 19
11
Retirement and Spousal Support
12
  • If you are concerned about retirement solely
    because of spousal support,
  • it is important to understand that you may retire
    and have your support obligation modified
    provided it is REASONABLE TO DO SO

13
You cannot retire very early simply to avoid a
support obligation
14
However, if you reach the normal retirement age
(65) and wish to retire, your support obligation
can be modified to reflect your changed
circumstance
15
Alimony May Not Stop at Retirement Age
16
  • When you do retire,
  • there is no guarantee that
  • your alimony will stop

17
  • Depending upon the terms of your spousal support
    order, your alimony may be scheduled to continue
    on an indefinite basis even once you have reached
    retirement age and chosen
  • to stop working

18
You will need to petition the court in order to
request modification of your support obligation
19
Calculating Alimony in Retirement
20
When making a change to your support obligation
because of retirement, the court will consider
the income that you will have coming in
21
You may be required to pay continued alimony at
the same level or at a lower level if you have
sufficient income to continue providing support
22
Arguing Your Case
23
If you are seeking to retire and wish to have
support reduced or ended, it will be up to you to
follow the appropriate legal procedures and
convince the court that a change to your alimony
obligation should be made
24
An experienced divorce and family law attorney
can help you to pursue a change to your alimony
obligation in retirement
25
We invite you to contact us at (925) 314-2320 to
schedule a consultation
Content provided by Best Legal Practices
Click to visit www.FamilyLawGroup.com
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