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Subsequent Amendments to Life Order

  • Wikithanker
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26 Aug 20 - 26 Aug 20 #513851 by Wikithanker
Topic started by Wikithanker
Dear All,

I would be very grateful for opinion on this subject, this is the timeline and facts:

Main question: When I retire from corporate pay, on which is currently the subject of and start a new business, will the Court want to base an amended Order on that new revenue stream?

DOB 1960, male, married, one new dependent child.

Nov 2014 - Life Order issued in favour of ex-wife - £3,200 pcm - in operation, fully observed
Apr 2015 - re-married
Nov 2017 - new child born

Projected planning (scenario under question):

Jan 2022 - retire from corporate job, aged 62, salary will fully cease, no other source of income

Feb 2022 - go back to Court to seek adjustment of Life Order - as a pensioner

Feb 2023 - start to receive profit from a newly started independent business

Other questions:

1. In Feb 2023 - am I obliged to go back to court and inform them of my new revenue stream and thereafter?

My thinking - when I retire, the Court will adjust the Life Order accordingly on the basis of my pension. If I then start a subsequent business and earn profit, that should not be liable to an increased Life Order.


Most grateful for any views,

Regards,

Will
Last edit: 26 Aug 20 by Wikithanker.

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