The Reduction in Standard of Living provision acknowledges that unforeseen economic changes may impact the financial stability of either party. This provision allows for a review of spousal support if such changes significantly reduce the standard of living of one of the parties. However, it emphasizes the importance of autonomy in decision-making and a cooperative approach to maintaining financial balance.

Provision Overview:

1. Autonomy in Decision-Making:

   • Both parties recognize their right to make decisions within and beyond the law and wish to maintain control over their financial arrangements. They have agreed that the terms of their agreement should remain final and not be subject to court interference. This reflects their commitment to resolving issues independently and maintaining financial certainty.

2. Financial Independence:

   • In the event of financial hardship due to loss of employment, illness, or changes in family conditions, both parties agree to make their best efforts to remain financially independent. The agreement stresses the importance of self-sufficiency, even in difficult times, to avoid financial reliance on one another.

3. Equal Lifestyle for Children:

   • It is important for the parties that their children enjoy a similar standard of living in both households. They have agreed to set an example for their children by ensuring that neither parent takes financial advantage of the other, maintaining fairness in their financial arrangements.

4. Review of Support Provisions:

   • Both parties acknowledge that unforeseen circumstances beyond their control may arise, leading to a drastic reduction in the standard of living for one of them. In such cases, they agree to review the support provisions with the help of a mutually acceptable financial planner. The review will assess whether a significant reduction in standard of living has occurred and explore whether financial adjustments are necessary.

   • Important Note: The agreement explicitly states that this review does not automatically trigger a change in the spousal support provisions. Instead, it allows both parties to evaluate the situation and determine whether financial assistance can be provided without altering the existing terms of the agreement.

Why This Matters:

This provision strikes a balance between maintaining autonomy and addressing potential financial challenges. It ensures that both parties have the opportunity to review and discuss spousal support in the event of significant financial changes, while also reinforcing their commitment to financial independence. The involvement of a financial planner adds a neutral, professional perspective to ensure fairness without the need for automatic adjustments.