Retiring in a Down Economy

With an influx of applications by payor former spouses seeking to modify an existing alimony/spousal support obligation, much has been written about the impact of the economic decline on post-judgment litigation over the past few years. Hundreds of thousands ' if not millions ' of people have lost their jobs as employers attempt to become “leaner” to survive, while certain entities have been effectively eliminated altogether, especially on Wall Street and elsewhere in the financial and real estate sectors. In light of this ongoing situation, courts have had to apply a stricter level of scrutiny to the application of the law with regard to modification of judgments to determine which payors are truly suffering a change in their financial status meriting relief, and which ones are disingenuously trying to take advantage of a potentially fleeting opportunity.