What To Do If Financial Circumstances Change Post-Divorce

 Posted on November 14,2024 in Divorce

Life after divorce often brings a range of adjustments, especially when managing finances independently. In some cases, however, these financial circumstances can shift unexpectedly, creating new burdens that impact your ability to comply with the terms of your divorce decree. 

Events like sudden job loss, a medical emergency, or a considerable pay decrease can strain your resources, making it difficult to maintain agreed-upon financial obligations. An experienced Illinois family law attorney can help guide you through your options if you need to modify your divorce decree due to a significant financial change.

Can I Modify My Divorce Decree After a Financial Change?

To seek modification, you must demonstrate that the change impacts your ability to meet the financial obligations outlined in your original divorce decree. Illinois law allows for modifications to divorce decrees if there has been a substantial change in circumstances such as: 

• Loss of employment or significant reduction in income

• Increase in income, whether from a promotion, new job, or other sources

• Medical expenses or other unexpected financial burdens

• A rise in the cost of living

• A change in the needs of children

What Parts of a Divorce Decree Can Be Modified?

State law permits modifications to certain aspects of divorce decrees, but not all. Typically, you may request changes to:

• Child Support: This can be increased or decreased depending on the child's financial needs and each parent's income.

• Spousal Maintenance: Modifications can reflect changes in either party’s financial status or needs. If the recipient’s income significantly increases, the paying party might seek to reduce or terminate maintenance payments.

• Parental Responsibilities and Parenting Time: While financial changes alone do not affect custody arrangements, a modification in income can influence the terms if it impacts the child’s well-being.

Changes to property division, however, are generally not permitted once the divorce is finalized, barring fraud or other extraordinary circumstances.

How Do I Start the Modification Process?

To begin the modification process, you file a petition with the court that initially issued your divorce decree. Working with a family law attorney can help ensure that your petition has the necessary evidence of the changes in your circumstances.

Steps for filing for modification in Illinois include:

• Gathering Documentation: Collect proof of your financial change, such as termination notices, medical bills, or other relevant documents.

• Filing a Petition: This involves formally asking the court for a modification. You must outline the financial changes and demonstrate how they impact your ability to comply with the existing terms.

• Serving the Other Party: Illinois law requires you to notify your ex-spouse of your petition.

• Attending a Hearing: Both parties may be asked to attend a hearing, where the court will review the request and make a decision.

Will My Modification Be Approved?

Approval for modifications is not automatic. Illinois courts consider a variety of factors, including:

• Whether the financial change was within your control

• The current financial situation and needs of both parties

• The best interests of any children affected by the modification

Working with a family law attorney can improve your chances of success, as they can help you present a strong, evidence-based case.

Contact a DuPage County Family Law Attorney

If a significant change in your financial circumstances has impacted your ability to comply with your divorce decree, consider speaking with an Illinois family law attorney. A Wheaton, IL divorce attorney at Goostree Law Group can guide you through the modification process and advocate for your interests. Contact us today at 630-364-4046 to discuss your options.