As we have discussed before, child support and spousal support affect many individuals in Colorado and throughout the rest of the country. Many people depend on these payments to maintain their own livelihood and the livelihood of their children.
Sometimes, however, the person making payments experiences a life change that may prompt them to seek a modification of court-ordered child support or alimony payments. Such a change could be caused by a serious medical incident or a major change in salary.
It’s no secret that pro athletes are undergoing some job changes of their own. With lockouts on the horizon and labor discussions up in the air, many pro athletes are starting to take measures to protect their finances. One way NFL and NBA players are approaching this is to file for modification of their child support or alimony payments.
According to one source, up to 80 percent of professional athletes are affected by these family law issues. Because a lockout would mean a pay cut for many professional athletes, many have already filed or are considering filing for a modification of their support payments.
While professional athletes may be without a job for a year, their ex-wives and children may be faced with some hardships as well. Some ex-wives of athletes have expressed concern for their livelihood should a lockout occur. Those who receive support payments often depend greatly on them. They help put food on the table and provide clothes for the kids. Lowering monthly payments can put these people in a difficult position.
Source: San Francisco Chronicle, “NBA, NFL players’ ex-wives likely to feel pinch,” Scott Soshnick, 10 May 2011