During the divorce process you likely asked for some things that you did not get. Compromise is often part of a divorce. However, there are cases where the marital settlement agreement was based on partially inaccurate information. Or, worse yet, fraudulent information. Oftentimes, circumstances of one party changes. All of these are valid reasons for a post-divorce modification.
Modifications Due to Inaccurate Information
These cases often occur when there is tangible property for sale at the time of the divorce decree. If the assumption was made that the sale of the house would pay the loan and any other debts and it does not, there will need to be some modifications for the parties to pay the outstanding debt. Likewise, if there are proceeds beyond what was expected, both parties may be entitled to an equal share of the funds.
Dealing with Fraudulent Information
One reason assets are not equally divided in a divorce are because one spouse was supporting another person with marital assets. If it can be proven, even after the divorce, a post-divorce modification for restitution may be allowed. Another instance is where one party fails to fully disclose assets during the divorce process. Unless the items were part of an inheritance, they must be part of the marital settlement agreement.
Change of Situation
There are many situational changes that can trigger a post-divorce modification. One of the most common is a change of circumstance. For example, if your income substantially changes, so may child support and alimony. Whether you are paying or receiving, substantial changes to income can mean that both may be modified. However, if you intentionally leave a job to avoid child support or alimony, you likely are not going to avoid paying either. Of course, if one parent moves out of the area, is convicted of a crime, or can be proved to be a drug addict or abuser, your custody situation may be modified which may also change child support.
Do You Need an Attorney to Review Your Situation?
These are only a few of the reasons a post-divorce modification may be in order. The team at Wagstaff & Pitelis can help you understand if your unique situation warrants a change to your marital settlement agreement. Call us at (727) 584-8182 for a no obligation consultation.