Divorce changes many things, the least of which is finances. In a typical divorce, a couple goes from one household – on at least one if not multiple income streams- to two. Divorce splits the household but usually doesn’t involve an increased income. One spouse may be left without any income at all or very little compared to the standard of living the couple enjoyed together during the marriage.
Perhaps one spouse spent several years during the marriage putting their career goals on hold while the other pursued education or focused on their career. Maybe one spouse has always stayed home to be a homemaker and raise the children. Spousal support or spousal maintenance, also referred to as alimony, helps level the financial playing field during a separation and divorce. With experienced spousal support attorneys in Hinsdale on your side, you can be assured that you are paying or receiving what you should.
Illinois law provides a specific formula for determining spousal support payments. To use this formula, take 33 percent of the paying spouse’s net income and subtract 25 percent of the other spouse’s income. The sum is the yearly maintenance that must be paid. Even still, spousal support can’t cause one spouse to earn over 40 percent of their combined income. Keep in mind that if they so choose, a divorcing or separating couple can work out their own terms for spousal support payments. As long as each spouse agrees and the court approves, they can work with their spousal support lawyers in Hinsdale to find an amount they can agree on.
Although additional factors are considered, the duration of spousal support payments directly correlates with how long the couple was married. Duration is calculated by multiplying the length of the marriage by the corresponding multiplier as provided in Illinois law:
For couples who were married for 20 or more years, the court can order spousal maintenance payments for the length of the marriage or for an indefinite period of time.
It’s always a good idea to check with spousal support attorneys in Hinsdale to find out if you might qualify to receive this financial support. Spousal maintenance arises from an effort to assist a financially dependent spouse in reaching a financially independent status. Before using the legal formula to award spousal maintenance, the court must first determine if an award is necessary after considering additional factors such as:
Spousal support can become a complex and contentious topic during divorce proceedings. To ensure that you receive or pay what you are legally obligated to, meet with spousal support lawyers in Hinsdale to discuss your case. Contact the Goodman Law Firm today.
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