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  • Divorced-Paying SS-New Business

    Hi everyone,
    My spousal support will continue until my 65th birthday. Should I want to open a business in the mean time can he take me back to court for more money?
    Tks to all
    L

  • #2
    I think it would all depend on the wording of your agreement. Are there any clauses in there that say under what circumstances SS can or cannot be reopened?

    Was the amount of SS set based on a fixed assessment of your ex's needs, or was it calculated as a proportion of the net family income?

    How long do you have till you're 65? If it's fairly soon, maybe you can build the business slowly till then.

    Honestly, even though there may be hard feelings towards your ex, and resentment at the idea of him (am I remembering correctly?) benefiting from your hard work post-separation, you don't want to be putting your ambitions and life on hold for it either.

    I say, open the business, do what you enjoy, and if it makes money for being successful, worry about it then. Most businesses don't, at least not for a number of years. If you should get lucky and be the exception, and he gets wind of it (do you have to disclose annual finances if child support is not involved? SS is not usually changed annually, I don't think.) offer him a slight increase in SS as a bribe to stay out of court. Ultimately that would probably cost less to you than court.

    Comment


    • #3
      Thank you for responding

      1. Will be 65 in 2yrs 2mths
      2. S.A. states only that no more support will be awarded after 65
      regardless of any chance of circumstances

      If I read between the lines is there a wee loophole silently stating I'm game until I do reach 65?
      I will be (hopefully) going into business with another female investigator. We are meeting this afternoon to go over our business plan.

      Tks
      L.

      Comment


      • #4
        So support ends completely at 65, or support can't change amounts after age 65?

        Two years isn't too long to wait, especially if you have a business partner who can do the bulk of the work and receive the bulk of the income until then, when you are more free to contribute. Unless you were planning on retiring from the business at 65? Under two years also isn't too long to have to pay increased SS if you do end up doing well and he gets wind of it and requests an increase and succeeds in court (all of which takes time). But you'll likely have some startup costs and take time building a client base before you see happy financial results anyways. I'm thinking you'll make your two years without any worries.

        Good luck!

        Comment


        • #5
          Originally posted by Lorac View Post
          Hi everyone,
          My spousal support will continue until my 65th birthday. Should I want to open a business in the mean time can he take me back to court for more money?
          Tks to all
          L
          Well, your new business may result in a material change in circumstance by which the requirements to entitlement to support may change. Say you make more than the other person in question makes in income.

          There are many situations for which a material change in circumstance can be brought forward for the SS to be changed at any time. Like disability. If the payor were to become disabled and unable to pay... The material change would impact the agreement.

          A material change in circumstance makes nothing in family law truly "FINAL".

          Furthermore, if the party in question can provide and produce evidence that you intended to create this business prior to the agreement, that in itself is grounds to re-open the SS and change it.

          Good Luck!
          Tayken

          Comment

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