Post-Divorce: Wrapping Up and Moving On With Your Life

After the divorce, can I make changes to our property settlement agreement if I no longer like the agreement?

A property settlement agreement is a contract that binds both parties. When the agreement becomes part of a divorce judgment, its terms become court-ordered obligations, and you cannot make changes to it without your ex-spouse’s permission. That may not be easily obtained because what may make a provision unsatisfactory to you may be more than satisfactory to your spouse. For instance, if you received the marital residence as part of the settlement agreement and the value of the home at the time of the divorce was $450,000, you may wish to change the agreement if the value is much lower now as a result of the increase in property taxes and changes in the tax law that no longer allow state taxes to be deducted from your federal taxes. Your home’s loss in value unfortunately does not give rise to a “do-over”; nor does it give you the right to ask your ex-spouse for monies to compensate you.

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