“If you can’t explain it simply, you don’t understand it well enough.” – Albert Einstein.
People’s incomes change after divorce, but the obligations of child support and maintenance seem written in stone at the moment the divorce is entered. Of course, both child support and maintenance can be modified with good cause during later years. But if one or both parties’ incomes are guaranteed to fluctuate every year, it is
Warren Buffett once said, “If you don’t find a way to make money while you sleep, you will work until you die.” Many people have saved enough money, which subsequently makes enough money to maintain themselves…and then they get divorced. The money divided is often enough to live off as well (or at least pay
Being a real estate agent, also known as a realtor, is like being the world’s friendliest gambler. You might sell a house for a client, you might buy a house for a client, or you might not. Either way, real estate agents have to keep smiling through it all. Smiling through challenges is a distinct
At the moment an Illinois divorce is registered, the final court documents capture a moment in time. A moment where both parties are unmarried…but they won’t be for long. People who get divorced usually get married again. A remarriage means an entangling of a spouse’s finances with their new spouse. How does a new spouse’s
Whether the economy is booming, inflation is increasing or either former partner has devoted themselves to their job after their divorce…people’s incomes go up. Income is the determinator for both child support and maintenance in an Illinois divorce. When income goes down, parties to a divorce either need more support or they cannot afford to
Ernest Hemingway was once asked, “How’d you go bankrupt?” Ernest replied, “Two ways, slowly and then all at once.” That’s a lot like how a divorce works. Years of resentment and planning become tactics and strategies once the divorce is finally filed. Often, one spouse is left without support yet the discovery deadlines necessary to
Maintenance, formerly known as “alimony” in Illinois, is a way to further ensure an equitable division of finances between two spouses who have unequal incomes. One spouse has relied on the other spouse for regular financial support, the Illinois legislature states the supporting spouse should continue to support their ex-spouse in a definite amount for
People conveniently lose their jobs when they have to pay maintenance pursuant to an Illinois divorce order. While unlucky in their profession, they presume they will be lucky in court when they file a motion to modify their maintenance obligation to reflect their newly unemployed status. What happens to maintenance in the short term and
People from Illinois love to move to Florida. People who get divorced love to get a fresh start in Florida. These new Florida residents might have some obligations back in Illinois due to their Illinois divorce. How do you enforce an Illinois divorce judgment when the other party is now in Florida? How do you
Illinois courts award maintenance (formerly known as alimony) from the spouse earning the larger income to the spouse earning the smaller income (or with no income at all). Maintenance is awarded as a specific amount of money to be paid for a specific duration of time. The maintenance payor must pay that amount of maintenance