Question By: Alimony, also known as spousal support or maintenance, is a crucial aspect of divorce proceedings. It is a legal arrangement where one spouse provides financial support to the other after the dissolution of their marriage. Each state has its own guidelines and laws regarding the calculation and payment of alimony.
Determining the Eligibility for Alimony
In Illinois, the court may award alimony to a spouse based on various factors, including the length of the marriage, each spouse's income and earning potential, the standard of living during the marriage, and the needs of each party. It is essential to consult with an experienced attorney to understand your eligibility for alimony and how to navigate the legal process.
Types of Alimony
There are three main types of alimony that can be awarded:
a. Permanent Maintenance: This type of alimony is typically granted in long-term marriages where one spouse may not have the ability to support themselves adequately. The duration of the payments is usually indefinite but can be modified or terminated under specific circumstances.
b. Rehabilitative Maintenance: This type of alimony is awarded when one spouse requires financial support temporarily to acquire education, training, or employment skills to become self-sufficient.
c. Reviewable or Modifiable Maintenance: This type of alimony is subject to review or modification based on changing circumstances of either spouse, such as a change in income or employment.
Calculation of Alimony
Illinois courts use specific formulas to calculate the amount of alimony to be paid. The formula considers both parties' incomes, the duration of the marriage, and certain statutory guidelines. However, the court has discretion to deviate from these guidelines based on the unique circumstances of each case.
Payment Methods and Frequency
Alimony payments in Illinois are typically made on a regular basis, such as monthly or bi-weekly. The payment can be made directly between the spouses, but often, it is facilitated through the Illinois State Disbursement Unit (SDU), which acts as a neutral third party to receive and distribute payments.
Tax Considerations
Before 2019, alimony payments were tax-deductible for the paying spouse and considered taxable income for the receiving spouse. However, due to changes in federal tax laws, for divorces finalized after December 31, 2018, alimony is no longer tax-deductible or taxable income for either spouse. It's crucial to consult with a tax professional to understand the tax implications of alimony in your specific situation.
At Bruning & Associates, P.C., they understand that every legal matter is unique, and they tailor their approach to meet your specific needs. Their team of highly skilled attorneys possesses an in-depth understanding of various practice areas, including corporate law, civil litigation, family law, estate planning, and personal injury, among others. They bring a wealth of knowledge and a track record of achieving favorable outcomes for their clients.
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