alimony modification

[channon21]

Ex spouse with periodic permanent alimony (now age 60) has approx $500K in IRA. I would like to reduce my alimony, based on her ability to draw on her retirement funds since she is older that 59 1/2. (I provided every nickel of the IRA). Ex spouse is under employed. Is there case law to support imputing a reasonable (say 4%, yearly) of the available funds to mitigate my alimony payment? I was informed (?misinformed) that she is not required to use these funds until she is 65, thereby drawing more alimony. No change in need. I have the ability to pay, and make significantly more than she does. Does that matter?
Thanks.

[Attorney Howard Iken]

Resources available to her mattered more at the time of the final judgment.

At this point, you must prove a "substantial change in circumstances." If everything is pretty much the same, including that CD, you cannot get a modification.

Attorney Howard Iken

[channon21]

Resources available to her mattered more at the time of the final judgment.

At this point, you must prove a "substantial change in circumstances." If everything is pretty much the same, including that CD, you cannot get a modification.

Attorney Howard Iken

The substantial change relates to being unable and unwise to draw on retirement funds at age 45, but at age 59 1/2, the funds are there for retirement and support, and it is financially sound to make periodic withdrawals. There are no penalties involved with funds withdrawal. (Even if it is just that interest or dividends that are used) This goes toward the ability of the spouse to be self sufficient. Need is met by retirement funds. Thanks.

[Attorney Howard Iken]

Sorry but I still do not think that will do it.

The "substantial change" must be something that "was not foreseeable at the time of final judgment."

I know that is not what you want to hear. But that is my opinion.


Keep in mind, attorneys rarely agree on anything.