If you are getting divorced, you may understandably worry about the financial consequences of ending your marriage. In some cases, a divorcing spouse is entitled to financial assistance from the other spouse, which is referred to as spousal maintenance or spousal support. This financial support, called alimony in other states, can be a major source of financial relief for the recipient spouse. However, it can also be a significant expense for the paying spouse. It is important for every divorcing spouse to understand the role spousal support may play in their divorce.
Some spouses are entitled to spousal support because they have already signed a prenuptial agreement that dictates the amount and duration of support to be paid in the event of divorce. Spouses may also be able to negotiate the terms of spousal support and reach an agreement without the court’s involvement during the divorce process. Spouses also have the right to petition, or ask, the court for spousal support. The court has the discretion to award spousal support or deny the request.
The amount of spousal support a spouse pays is based on the spouses’ net incomes. Illinois law sets for the following spousal support formula: One-fourth of the recipient’s net income is subtracted from one-third of the paying spouse’s net income to find the amount of support to be paid.
The duration of spousal support payments is largely based on how long the couple was married. The longer the marriage, the longer spousal support payments last. However, spousal support automatically terminates if the recipient gets remarried or the paying spouse dies. If the recipient lives with a partner in a marriage-like relationship, the paying spouse may petition the court to stop his or her maintenance obligation.
Spouses may be able to modify their spousal support order if either party’s financial circumstances change significantly. For example, if the paying spouse falls ill and cannot work, his or her obligation may be reduced. Similarly, if a recipient spouse experiences a financial windfall or significant increase in income, the court may reduce the paying spouse’s obligation.
Divorce cases can take several months to several years to complete. Divorcing spouses who need financial assistance during the divorce process may petition the court for a temporary relief order. The court will evaluate the spouses’ financial circumstances and needs and decide if a temporary order for spousal maintenance is appropriate. The court may use discretion when deciding the amount of temporary support to award a spouse.
If you are getting divorced, contact NN Legal Group for help with spousal maintenance, property division, child custody, child support, and other divorce concerns. Call our skilled Glen Ellyn divorce lawyers at 630-474-0925 today for a free consultation.
Source:
https://www.ilga.gov/legislation/ilcs/fulltext.asp?DocName=075000050K504