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
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.