Support Escalator Clauses in Marital Settlement Agreements
Can Parties in a Divorce Agree to an Automatic Increase in Support in their Marital Settlement Agreement?
When parties to a divorce contract with each other to resolve all the issues in their case, one of their agreements may include how much support (including child and spousal support) is paid from one party to the other. They may also include an agreement that support will increase or decrease upon the occurrence of some event.
For example, many parties agree to exchange income information on a yearly basis. If the support obligor’s income increases during the year, the parties may define how much of an increase in support will occur as a result of the increase in the support payor’s income.
Conversely, if the support payor’s income decreases the parties may also agree to decrease the amount of support proportionately. While this is less common since income levels typically increase, some parties nevertheless agree to such terms.
The issue of child support and spousal support may be extremely complex and you need an experienced family law attorney providing you with legal advice and advocating on your behalf. Call or email our office today. We offer a free, private initial consultation and we are centrally located in Boston & downtown New Bedford.