Signs You May Have to Pay Alimony if You Get Divorced in Illinois

 Posted on April 11, 2022 in Divorce

When a marriage is ended, some of the most far-reaching decisions revolve around finances and assets. Without a valid prenuptial or postnuptial agreement, the two parties or the judge must agree on whether alimony, also known as spousal support or spousal maintenance, will be paid by one spouse to the other. There are different factors to determine whether alimony will be paid, how much the payments will be, and how long the support will continue.

Spousal support is not a required part of the divorce agreement. There are three main avenues for one spouse to receive alimony in Illinois:

• Through a valid prenuptial or postnuptial agreement. This agreement can cover the amount of the payments, the length of payments, or simply if payments will occur.
•  A settlement or agreement by the two parties during the divorce proceedings. This can be negotiated directly by the two parties in an uncontested divorce or by their attorneys during divorce negotiations.
• A petition of the court by one of the parties.

Determining Whether Alimony Will be Paid

If there is no spousal support agreement in place, the following factors are taken into consideration when determining if spousal support is to be paid:

• How many assets each party has after the divorce process. This will be determined as part of the division of marital assets process and can include the family home, other property, retirement savings, and more.
• Each party’s future earning potential, based on current income, education, and how long it would take to increase one’s earning potential. This could include support for education or training programs.
• Each party’s age and health at the time of the divorce, and any other financial needs.
• The accustomed standard of living during the marriage.
•  Any sacrifices made by one party during the marriage to further the other’s career. This can include whether one spouse stayed at home while the other earned the family’s income.
• Any impacts on employment from the parenting plan established in the divorce process

The amount of alimony is usually calculated by statutory formula. Subtract 25 percent of the yearly net income of the receiving spouse from 33.3 percent of the net yearly income of the paying spouse to arrive at the amount. The length of the marriage usually determines the length of the spousal support payments. The court, however, may deviate from the statutory formula in some situations.

Contact a Cook County Divorce Attorney

For your divorce case, contact a Chicago divorce attorney you can trust. At The Law Office of George J. Skuros, we can help you navigate issues around alimony, child custody, property division, and more. Call us at 312-884-1222 for your free, confidential consultation today.

Source:

https://www.ilga.gov/legislation/ilcs/documents/075000050k504.htm