“If I don’t have the income, do I have to sell my assets or borrow money to pay my support obligations?” And the answer usually is “No.” Under Florida law, a Court generally cannot require a party to liquidate assets or incur debt to meet his or her support obligations.
When calculating alimony or child support, the Court looks at your actual income. That means that your assets normally only become an issue if they are generating regular income for you. So if you’ve fallen on hard times, or your income has changed substantially, in a way that makes your current support obligations impractical, take heart.
Florida law allows you to seek a modification of your obligations, and usually your assets are protected through that process. So make sure you know your legal rights before you go in the hole financially or have a garage sale to pay your support—there may be a better option available to you!