Tag Archives: alimony
Illinois Spousal Support
A divorce makes for a very unpleasant experience in a couple’s life. Financially and emotionally, these times can be very difficult. However, effectively communicating the provisions following the finalization of a divorce can make the process easier, and several factors need to be determined with regard to spousal support.
Taxes and Divorce – What Every Disadvantaged Spouse Should Know
Couples often assume that a finalized divorce is the end of their separation journey, but nothing could be further from the truth. Steps must still be taken to complete the unraveling of finances, and there are still some areas in one’s life that can be impacted by a divorce. For example, a divorce can affect a person’s federal income taxes. Learn more about taxes and divorce for disadvantaged spouses, and how some of the decisions you make now may impact you when you file your taxes next time.
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Living With a New Partner Could Affect Your Spousal Support
If you are receiving payments of alimony—also known as maintenance or spousal support—you have probably come to rely on those payments to improve your quality of life. Assuming the maintenance was ordered by the court and not the result of an agreement between you and your spouse, the existing order also means that the court determined that the support was appropriate to help offset the financial impact of your divorce. In most cases, maintenance orders are intended to last for a predetermined amount of time, but there are some events that could cause your order to be terminated ahead of schedule.
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Spousal Maintenance in Illinois
Spousal maintenance is an important aspect of the divorce process, and those beginning the divorce process would be wise to become familiar with the topic. You may have heard spousal maintenance referred to as alimony or spousal support, and all names refer to the same idea of payments being paid to one spouse from the other spouse after divorce.
A Glossary of Divorce Terms
Divorce is a common legal process that many couples will have to go through. However, as with many legal proceedings, the terminology can often form an unnecessary obstacle to people’s understanding it. This glossary of divorce terms should help people cut through the legal jargon to understand what is going on in their own divorce case.
Fixed-Term Spousal Maintenance Will Soon Be an Option
In August of 2014, the Illinois legislature passed a bill, which Governor Pat Quinn signed into law, amending the current provisions regarding spousal maintenance. Sometimes known as alimony in other jurisdictions, spousal maintenance represents the support an individual may be required to provide to their ex-spouse following a divorce. The changes enacted this summer will go into effect on January 1, 2015, and are considered by many to have been long overdue.
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Alimony Laws in Illinois
Alimony is a difficult and confusing issue for all divorces. The current guidelines for judges to follow in order to decide and calculate alimony are ambiguous and uncertain. Divorcing spouses have little information to go on to guess what alimony will be. However, a new law that will go into effect in January 2015 will make alimony easier to calculate and much clearer.
What is Spousal Support?
Sometimes during a marriage, one spouse works full-time while the other stays at home, either to raise the children or for another reason. In the event of a divorce, the unemployed spouse may face a decrease in his or her standard of living. To prevent a dramatic decrease, spousal support, also referred to as spousal maintenance, or alimony, exists.