It is common knowledge among the general population and Illinois courts that married couples enjoy certain financial advantages that disappear once that couple gets divorced. One such advantage is the fact that the couple only has to maintain one household. That means there is only one rent or mortgage to pay, one electricity bill to pay, one garbage bill to pay, etc. When couples stop cohabitating, the cost savings of shared expenses vanish, which can put a huge financial strain on both parties. To help ease the burden, Illinois courts may attempt to establish a marital standard of living and adjust the alimony or spousal support award accordingly—but not always.
The different types of alimony in Illinois
It often seems that as soon as the issue of divorce comes up between you and your spouse, so too does the matter of alimony. A vast majority of the clients that come to see us here at the Essig Law Office do so assuming that they will either have to pay or be entitled to receive alimony. No matter which perspective they are coming from, nearly all are shocked to learn that the awarding of spousal maintenance is not automatic. Rather, the judge hearing your case in Washington will make a determination as to whether or not it is even an option.
What factors impact how much alimony is required?
With your divorce a certain decision, you are now facing the task of rebuilding your life as an independent person. Depending on the length of your marriage in Illinois, this task could be particularly challenging, especially if you have been married for a long time. Most likely, you will be required to sustain yourself and your personal needs all while trying to reconfigure your life. Often, this may affect your living situation, your relationship with your children and other family members and even your long-term financial plans.
When to request a modification to your alimony agreement
You have been divorced for quite some time and during the initial court proceedings, you and your ex reached an agreement that you would be paying a certain amount of alimony each month. However, recently circumstances have changed and now you feel the need to modify your agreement. At Essig Law Office, we have helped many people in Illinois to coordinate alimony agreements that work to the benefit of both parties.
As gender equality improves, more women paying alimony
When couples decide to pursue a divorce in Illinois, they are immediately faced with a barrage of important decisions to make. Choices that will ultimately have far-reaching effects on their future including decisions related to financial support, child custody and separation of shared assets. Over the years, costly financial obligations like child support and alimony have been paid almost exclusively by men during a divorce. However, this may soon change as gender equality is prioritized.
Will the new tax law affect your alimony payments?
You may feel that your marriage is coming to an end, but financial issues or other matters may be keeping you from filing for an Illinois divorce just yet. According to the American Bar Association, the timing of your filing for divorce may make a big difference in how spousal maintenance will affect your taxes.
Before you spend your first alimony check
Receiving an alimony award in an Illinois divorce may make a person feel relieved that he or she will be taken care of. However, there are things to know about that payment before depositing it in the bank.
Can a premarital agreement prevent an alimony award?
Before you and your spouse married in Illinois, you sat down and talked about the future of your finances together. Both of you agreed that if you divorce, neither of you should have to pay alimony. However, now that you are facing the split, your spouse is saying that agreement will not hold up in court.
Financial support should not be a gender issue
In marriage, spouses in Illinois may have to make some major compromises in their careers for the sake of their relationship. When the relationship ends, though, the effects of those decisions do not. Spousal support is intended to provide balance so that neither spouse suffers a significant standard-of-living decrease after the divorce.
Will you be required to pay alimony to your spouse after divorce?
If you and your spouse have decided to follow through with divorce under Illinois law, you may be well aware that a barrage of decisions is waiting to be made. One of these important determinations may be whether or not alimony, paying or receiving, is going to be a part of your outcome. Often, this decision is made after considering a variety of factors, as well as taking into account the personal desires of both you and your spouse.
