Social Security is the United States’ federal government’s system for making regular payments to people if they are disabled and/or elderly. People who are getting divorced and also receiving a social security benefit (or their spouse is receiving it) need to know how a divorce will impact that benefit. The law does not treat social…
Often, during the pendency of a divorce the couple find themselves supporting two households and trying to maintain the standard of living for both of the households while having just one income. In the absence of assets to live off, typically, this means the lower-earning spouse is relying on support from family. This support may…
Before the new tax law was passed by Congress and signed into law by the president on December 20, 2017, 26 U.S. Code Section 71(a) read “Gross income includes amounts received as alimony or separate maintenance payments” which mean that the alimony or spousal maintenance receiver was the person who paid taxes on the alimony or…
Illinois law provides that maintenance (formerly known as alimony) is awarded “For a marriage of 20 or more years, the court, in its discretion, shall order either permanent maintenance or maintenance for a period equal to the length of the marriage.” 750 ILCS 504(b)(1)(b) What does “permanent” maintenance, exactly? Does it truly go on forever?…
