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Naperville spousal maintenance attorneyThere is no guarantee that either spouse will receive spousal maintenance in an Illinois divorce. Though 40 or 50 years ago, spousal support or alimony was rather common in divorces, today it is more of an exception to the rule, rather than the rule itself. There are a few situations in which you might receive spousal maintenance. Your case might involve spousal maintenance if you and your spouse have a significant difference in income or if one of you sacrificed your career to stay home and raise the kids or take care of family responsibilities. Whatever the case, there is a formula used to determine the amount of maintenance to be paid in Illinois.

How to Calculate Spousal Maintenance

The Illinois Marriage and Dissolution of Marriage Act (IMDMA) specifies the formula that is used to determine how much spousal maintenance is to be paid and how long those payments will last. The formula contained in the act applies to couples whose combined gross annual income is less than $500,000. Anything more than that, and the court can use its discretion to determine an appropriate amount of maintenance.

Currently, spousal maintenance is calculated by taking 33.3 percent of the payor’s net annual income and subtracting 25 percent of the payee’s net annual income. The result of that calculation is the annual amount of spousal maintenance that must be paid. To determine the monthly payment amount, the annual spousal maintenance amount is divided by 12. It is also important to note that the payee's net annual income and the amount of maintenance, when added together, cannot be higher than 40% of the couple's combined net annual income.

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Naperville spousal support lawyerThough modern households often have two working parents, it is still not uncommon for one parent to stay home and take care of the children. Stay-at-home parents face a unique set of worries with it comes to divorce. If you are a stay-at-home parent, your spouse may have provided you with a sense of stability, but as that disappears, you are likely facing a great deal of uncertainty. Now, you may find yourself worrying about things you never thought you would have to worry about, like where you and your children will live and how you will be able to provide for your children.

Fortunately, there are ways you can address these issues when going through your divorce. Specific issues that other divorcing parents may not have to deal with, such as spousal maintenance, suddenly become extremely important to your divorce case. Even issues that most divorcing couples have to deal with, such as property division and child support, can be different when one spouse was a stay-at-home parent. Here are a few tips that may help stay-at-home parents better navigate divorce:

1. Gather All of Your Important Documents

Before you begin with the divorce, you need to make sure you have an accurate picture of your financial situation. For some stay-at-home parents, finances are dealt with by their spouse, and they might not even have direct access to the family’s financial information. Understanding your financial picture will ensure that you get everything you need and deserve out of your divorce. You will need to gather specific types of documents and provide copies to your attorney. You will want to make sure that you have located:

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Wheaton prenup lawyerWhen you see wedding bells in your near future, there are probably 101 things on your mind -- and a prenuptial agreement is not likely to be one of them. Though it can seem unromantic and it may feel like you do not trust your future marriage, a prenuptial agreement can be a hugely beneficial tool in the event that you and your spouse ever get divorced. Prenuptial agreements give you freedoms from certain laws that you would not otherwise have. A prenuptial agreement is a legal document that allows you and your spouse to basically plan your divorce before it happens. Prenuptial agreements allow you to address issues such as property division, spousal maintenance and ownership of businesses or professional practices.

Prenuptial agreements are not just for the rich and famous -- they are useful for almost everyone. Here are a few reasons why you may want to consider getting a prenuptial agreement before you tie the knot:

1. One of You Has Been Married Before

If this is the second trip down the aisle for either you or your spouse, you should strongly consider getting a prenuptial agreement. A prior marriage means you are probably coming into this marriage with more property and you may have other obligations from your previous marriage, like child support. A prenuptial agreement can protect these obligations.

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Naperville asset division divorce lawyerToday, nearly three million ex-spouses within the United States earn Social Security benefits from their former spouse's work records. If you or your ex have Social Security benefits and are officially divorced, you may want to know what rights you have under the law. Additionally, if you are considering divorce, you will want to understand what your spouse is likely to claim in the future. This information can directly impact the divorce judgment with regards to property division and support claims. Consider the following regulations:

Length of Marriage

According to the United States Social Security Administration, if you are divorced, but your marriage lasted at least ten years, an ex-spouse can receive benefits from another spouse’s record. An ex-spouse is still eligible even if the benefiting spouse has remarried. However, if the non-benefitting ex remarried, they can no longer make a claim, unless their new marriage ends, either by death, divorce, or annulment.

Qualifications

A divorced spouse has “divorced spouse benefits” equal to one-half of their spouse's retirement or disability benefits. An ex must meet the following qualifications:

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Naperville divorce lawyer alimony taxesWhile no two divorces are identical, they all have one thing in common: they are complicated and stressful. Experts suggest that the only event more stressful than divorce is experiencing the death of a spouse or a child. Even if you and your spouse experience an amicable, mutual separation, and there are only minor disagreements, the process itself is made up of many legal facets that must be resolved before it can be finalized. From child-rearing to finances, the division of a marriage into two separate lives can become troublesome. As if that were not enough, some brand-new divorce laws become effective as of January 1, 2019.

If you are considering divorce now or in the future, these new laws may affect your situation:

Spousal Maintenance Will No Longer Be Tax Deductible

Before 2019, spouses ordered to pay spousal maintenance or alimony were given a substantial deduction during tax season. This deduction often eased the sting of a monthly payment. Experts believe that now, spouses may argue to pay less in alimony as a result.

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