Tag Archives: spousal support
Is There A Limit On The Amount Of Spousal Support Awarded?
Yes and no. The answer depends on several factors and formulas the court uses to determine spousal support or alimony. It is one of the main reasons why divorce is considered the most contentious issue you can experience. A Schaumburg spousal support attorney can help you calculate the support you should receive, but the… Read More »
How Long Do I Have To Pay Spousal Support In Illinois?
Besides other financial matters that a divorcing couple has to address, spousal support can be the most contentious out of them all. While parents think child support is necessary to give their children a comfortable lifestyle and take care of their needs, a spouse is usually unhappy making ongoing payments to their ex-partner. In… Read More »
Can My Ex Modify Alimony If I Win The Lottery?
An individual’s odds for winning the lottery are one in a million. However, if you are fortunate enough to win one, and pay alimony, whether your ex can ask to modify alimony depends on a few factors. Timing Matters When it Comes to Alimony Modification Post Lottery Win Whether your ex can collect support… Read More »
How Is Spousal Support Calculated?
One of the largest concerns that a divorcing couple has is the state of their finances post-divorce. Once the court has made a decision regarding spousal support or maintenance, it has to determine the amount as per statutory guidelines. How Spousal Support Is Calculated in Illinois The length of the marriage plays a large… Read More »
Spousal Support and Tax Implications
In Illinois, spousal maintenance payments or alimony can be deducted by the party that is responsible for paying them for tax purposes. Also, the receiving party can also count it as taxable income. These payments can be made non-taxable or non-deductible in the divorce settlement as well. What Does Not Come Under Spousal Maintenance… Read More »