Can a Marital Settlement Agreement be modified after the divorce in FL?

Asked over 2 years ago - Orlando, FL

The original agreement stipulated that my ex would buy me out of the business I started and I would hold a promissory note until it was paid in full. We both agree that we would like to change that from a promissory note to alimony as economic conditions have changed for the business. The alimony would continue until the remaining portion of the note is satisfied. I reside in NV and he is in FL, where the business and divorce took place. Again, we are both in agreement to the change. Are there divorce attorneys that specialize in modifications?
Thank you.

Attorney answers (2)

  1. Jason Brian Phillips

    Contributor Level 12

    1

    Lawyer agrees

    Answered . There are procedures that are in place to modify the final judgment that adopted the original agreement. An attorney, such as myself, can assist you in filing an uncontested petition for modification of the final judgment.
    But, to answer your question, the final judgment can be modified if both parties agree that there has been a substantial change in circumstances.

  2. Joanna Marie Mitchell

    Pro

    Contributor Level 15

    1

    Lawyer agrees

    Answered . Yes, a joint stipulation for modification can be entered to modify the existing agreement, and many attorneys, including myself, can assist you with properly obtaining the modification. You can agree to either categorize the payments as either alimony or as equitable distribution payments. There are tax consequences that will depend on how the payments are characterized. You should consult with an attorney and possibly a CPA or tax specialist before signing any agreement.

    Should you wish to discuss this matter further, my office offers free initial telephone consultations. During the consultation, we can discuss the particulars of your situation in depth, as well as explore your potential rights and options. If you would like to coordinate a free initial telephone consultation, please contact my office at 407-971-6140 or 352-324-2444 to schedule same.

    Please note that THESE COMMENTS ARE NOT INTENDED AS LEGAL ADVICE and are for informational purposes only. This response is not intended to create any attorney-client relationship and is only based on the limited facts given. The response might change should additional facts be learned and should not be relied on as legal advice. It is recommended that you consult with an attorney who can properly assess the situation, as well as all pertinent facts, prior to taking any action based on the foregoing statements.


    Joanna Mitchell
    Mitchell & Associates, P.A.
    614 E. Hwy 50, Suite 327
    Clermont, FL 34711-3164
    PH: (352) 324-2444
    FX: (352) 324-2229
    Email: jmitchell@mitchell-pa.com
    Web: www.mitchell-pa.com

    Please note that THESE COMMENTS ARE NOT INTENDED AS LEGAL ADVICE and are for informational purposes only. This... more

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