Can Inflation Affect Alimony in Florida?

 Posted on November 27, 2024 in Alimony

Inflation is the rise of the cost of goods and services over time. It is why people have to pay more now for everyday items like food, gas, and housing than they did in the past. In Florida, inflation can greatly affect divorce cases, especially when it comes to alimony payments.

Alimony is meant to help the lower-earning spouse maintain a similar standard of living to what he or she had during the marriage. However, as the cost of living increases due to inflation, alimony payments can be impacted in both positive and negative ways. To find out more about how inflation might impact you, speak with an experienced Miami, FL family law attorney.

How Does Inflation Impact Alimony?

When there is inflation, there is an increase in the general cost of living. That makes it harder for people to pay for the things they need. Inflation can also impact alimony payments, with both sides potentially suffering.

Someone who receives alimony might find that the amount he or she is given covers fewer expenses than it once did. For instance, $1,000 a month in alimony might have been enough to cover rent and living expenses before inflation, but now it might only cover part of those expenses, leaving the alimony recipient with added financial stress.

On the other hand, the person paying alimony may also be affected. If he or she was already struggling to pay alimony before inflation, it might be even harder to make those payments and keep covering the increasing living expenses. For example, if someone pays $1,000 a month in alimony and his or her own living costs have risen because of inflation, he or she might not be able to keep paying alimony without making adjustments.

Can Alimony Be Modified Because of Inflation?

In Florida, you can request a modification to your alimony orders if your circumstances change significantly. A judge might consider inflation a good enough reason to amend your alimony order. You can request that the amount of alimony be changed if:

• You are the one who pays alimony, and you can show how inflation has made it hard for you to continue paying.

• You are the one who receives alimony, and you can show how inflation has reduced the value of what you receive.

Schedule a Free Consultation with a Miami, FL Divorce Lawyer

As the cost of living goes up, the value of alimony payments can decrease, making it harder for both spouses to manage their finances. If you are concerned about inflation significantly affecting your alimony payments, speak with a qualified Miami, FL alimony attorney. At 305-520-7874, we are dedicated to helping families get through challenging times and reaching their best outcomes. Call us at 305-520-7874 to schedule a free consultation.