Denver Divorce Attorney Clarifies Modifiable and Contractual Maintenance
It is possible to modify an alimony or maintenance agreement after a divorce, but only in specific circumstances. In this video, Denver divorce lawyer Kathlyn Laraway explains the difference between contractual maintenance and midifiable maintenance, and how it might be possible for you to modify your maintenance agreement if you undergo a substantial and continuing change in your life.
Maintanence can be awarded based the length of your marriage, the age and health of the parties, the standard of living enjoyed by the couple, each party’s earning capacity and the division of martial assets. It is important for an experienced divorce attorney to look at all of these factors to determine the possibility for maintenance and/or modification.
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There’s two actual types of maintenance. There’s modifiable maintenance and there is non-modifiable or contractual maintenance. Courts can only award what we would call modifiable maintenance, but parties on their own can enter into what we call contractual maintenance which can never be modified for any purpose whatsoever unless total agreement of the parties. You know, if one party agrees to pay contractual maintenance and then they lose their job, they’re still obligated to pay that money, whereas modifiable maintenance, if something happens, they were making, you know, very high figures, their company goes out of business, they have to find new jobs, they may be able to modify maintenance if their income decreases substantially. If maintenance is modifiable and not contractual, you can move to modify maintenance up or down depending on a change in circumstances. It does need to be a substantial and continuing change in circumstances that would necessitate a change of maintenance.
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