September 08, 2020
Going through a divorce can wreak havoc on your finances, particularly if your spouse earned the bulk of the income in your marriage. Getting the maximum amount you are entitled to in divorce proceedings plays a key role in your ability to move forward. Depending on the circumstances, you may be entitled to spousal support, otherwise known as alimony. An experienced divorce attorney can help you determine whether you are entitled to these payments and the amount you are likely to be owed.
In any divorce case, there are important matters pertaining to money which must be resolved before a final divorce order can be issued. In the Cook County Family Court and in other jurisdictions throughout Illinois, you have the right to request alimony or spousal support payments. Factors the judge will likely consider in determining whether it is warranted include:
Even if your spouse is not ordered to make alimony payments, bringing up the above information is still worthwhile as it could help you get a greater share in a marital property settlement.
Under the Illinois Statutes, there are strict guidelines regarding any amounts of spousal support that must be paid. These typically apply to couples making less than $500,000. In general, the formula used to calculate payment involves taking 33% of the payer’s net income and subtracting it from 25% of the payees. For example, if your spouse makes $5000 per month and you make $1,000, you may be entitled to an alimony of $1,400. (33% of $5,000 is $1,650. 25% of $1,000 is $250. $1,650 minus $250 equals $1,400)
In addition to the amount of alimony you may be owed, there is the issue of calculating the amount of time during which you are entitled to payments. In general, for every five years, you were married, you are entitled to two years of alimony. If you were married for 20 years or longer, spousal support may be ordered on an indefinite basis.
Spousal support can help you recover financially after a divorce. At the Women’s Divorce and Family Law Group, we are here to help ensure you get the maximum amount to which you are entitled. Call or contact our Chicago spousal support attorneys online to request a consultation today.