“If you can’t explain it simply, you don’t understand it well enough.” – Albert Einstein.
Divorce is financially stressful. Two incomes used to support one household before the divorce. After the divorce, one income often supports two households. On top of those household expenses are the divorce attorneys’ fees. Often the only way to pay these expenses is to get a second job or overtime hours. But, how does a
Maintenance (formerly known as alimony) is a funny thing in Illinois. If you aren’t awarded maintenance at the finalization of your Illinois divorce, you can never ask for it in the future. But, if you are receiving maintenance, sooner or later, that alimony order will end. So, how does maintenance (formerly known as alimony) terminate
At the end of your divorce you’ll receive a final document that says your spouse must pay you X dollars in maintenance (formerly knowns as alimony) every month. That final divorce decree will be emblazoned with an Illinois divorce judge’s signature and be as good as law. But, what if your spouse stops paying your
Social Security and divorce have interesting effects on one another in Illinois. 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
Living with someone else isn’t easy. Living with someone who you are divorcing is even harder. How do you live in the same house as your spouse during an Illinois divorce? My divorce clients first questions are usually, “should I move out? If I move out won’t I be accused of abandoning the family or
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
Maintenance (formerly known as alimony) is awarded for a period of time after the divorce. Maintenance can be for just a few months or maintenance can be permanent in Illinois. 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
Spousal Maintenance is a monetary sum paid by one spouse for the benefit of the other spouse upon separation or the dissolution of marriage; also called “alimony” or “spousal support.” In determining how much one spouse will pay another spousal maintenance (formerly known as alimony), In Illinois the first step is to determine if the