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In this article, our Naperville spousal maintenance attorneys explain the division of marital assets in Illinois divorces.
The marital estate may include different types of properties that are subject to division among spouses. Not all assets are counted as marital assets and therefore are not subject to division. The main focus of this article is on what can and cannot be divided.
We also discuss the factors that may play a role in how the Illinois divorce court determines how the assets and marital estate will be divided among the spouses. The length of the marriage, contributions of each spouse, and the economic circumstances of each spouse may all be factors in the court's decision making process.
In this article, our Naperville alimony attorneys explain Illinois spousal maintenance law. We provide an extensive look into the many factors that are considered when awarding spousal maintenance in a divorce.
If the judge finds it appropriate to award spousal maintenance, statutory formulas are used to determine the duration and amount of alimony payments. Our Naperville alimony attorneys explain when courts are required to apply these guidelines and the factors courts consider when determining whether to deviate from Illinois spousal support guidelines.
Read the full article by our Naperville spousal maintenance lawyers about Illinois alimony law.
In this article, our Naperville spousal maintenance lawyers explain marital settlement agreements in Illinois divorce.
Marital settlement agreements are contracts made between the parties to a divorce. The contracts are made to resolve some or all of the issues in a divorce. These may include spousal maintenance, division of assets and liabilities, parenting time and child support. The courts will often honor the marital agreements presented, however two exceptions can be made. The courts have the right to modify terms if they feel they need to change the terms in order to best protect the interest of any children involved or if the courts find the agreement to be “unconscionable”.
When both spouses' combined gross income is below $500,000 and the court determines maintenance is appropriate, Illinois applies a statutory formula. The amount is calculated as 33.3% of the paying spouse's net income minus 25% of the receiving spouse's net income. The receiving spouse's total income from all sources (including maintenance) cannot exceed 40% of the couple's combined net income. Duration is also formulaic based on the length of the marriage — longer marriages result in longer maintenance periods, up to indefinite maintenance for marriages of 20 or more years. The court retains discretion to deviate from the formula based on specific circumstances, such as one spouse sacrificing a career for the family. Learn more about Illinois spousal maintenance law.
Yes. Maintenance can be modified if there is a substantial change in circumstances — such as a significant change in either party's income, the recipient spouse remarrying, or the recipient spouse cohabitating in a resident, continuing, conjugal relationship. Maintenance terminates automatically upon the death of either party or the remarriage of the recipient. Courts may also consider whether the recipient spouse has made reasonable efforts to become self-sufficient. If your original agreement was negotiated without a formula or was based on older law, an attorney can evaluate whether a modification petition is appropriate. Contact our Naperville spousal maintenance attorneys to discuss your options.
Yes — in two ways. First, maintenance payments are deducted from the paying spouse's income before calculating child support, reducing their child support obligation. Second, maintenance received by the other spouse is added to their income for child support calculation purposes, potentially reducing what they receive in child support. This interplay means that the negotiation of maintenance and child support are closely linked, and changes to one can ripple through to the other. A marital settlement agreement can address both maintenance and child support simultaneously, and it is generally advisable to negotiate them together with experienced counsel. Read more about how maintenance affects child support in Illinois.