Tag: spousal support

Can My Ex Modify Alimony If I Win The Lottery?
Posted April 07, 2021

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 from […]

Read More
How Is Spousal Support Calculated?
Posted March 17, 2021

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 role […]

Read More
Spousal Support and Tax Implications
Posted November 17, 2020

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 For […]

Read More