On 16 September 2014 it was announced that inflation had fallen to its lowest level since 2009. How can this affect maintenance?
Many people will have maintenance orders containing an automatic variation clause upon any (annual) change in either the RPI (Retail Prices Index) or CPI (Consumer Prices Index). The former is used to take into account housing costs and the latter usually where the party receiving the maintenance has a property mortgage free.
It is often the case that parties with such maintenance orders fail to actually implement any annual changes due because of the administrative issues or perhaps because they may be getting on well and one party does not want to jeopardise that. However, the reality is that those clauses exist for a reason and if you are entitled to an increase then you should be seeking that. In cases where the index has dropped then likewise if you are the paying party you should review the order although it is often the case that the receiving party (when negotiating the order) seeks to restrict any change to an increase only.
The issue of variation of maintenance is a difficult one within itself but if your circumstances or those of your partner have changed significantly since the making of any maintenance order then you should seek legal advice as to whether or not payments should be reduced, increased or stopped completely.
If you wish to discuss financial issues to include maintenance or any family law related issue, please call Maguire Family Law +44 (0) 1625 544650 or email email@example.com