Why the Other Person’s Income Matters When Modifying Alimony and Child Support
Remember when modifying alimony and modifying child support that the other person’s income matters too. When you file the modification, you’ll be obtaining the other person’s financial records, typically three years of tax returns and three to 12 months of records of other information. Including bank statements, pay records, and credit cards. And that’s at a minimum. If you have a lawyer, and on your own, you can ask for more significant records than that depending on the situation.
And through this process of getting the other person’s financial records, you might learn that their income has increased or their need for financial support has decreased. And with alimony and child support, that can possibly make it so that you don’t have to pay the support anymore, that you lower support. Or in the case of child support, if the income change has been drastic enough, the other party may in fact owe you child support.
So this means that depending on what the other person’s finances are, even if your income returns to normal, you might be entitled to a permanent decrease in support based on the change in the other person’s income.
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