Providing For Your Financial Future After Divorce
When families fracture, it takes an experienced divorce and family law firm to help assemble the pieces in a new way. At Reich, Jumbeck, Stole & Reeb, we promptly answer the needs of those families by offering full-service support for divorce and divorce issues such as child support, child custody (or allocation of parental responsibilities), and alimony/maintenance determinations. Alimony or maintenance awards provide monetary assistance to keep the recipient financially stable in the wake of a divorce or legal separation. This can take on many forms, from a lump sum to a structured settlement issued over a defined period. Our divorce attorneys bring more than 75 years of combined experience to your alimony/maintenance matter; we aim to secure the best possible outcome.
How Illinois Determines Spousal Support
There are several factors involved in making an alimony/maintenance determination. This determination may be reached through private agreement in an alternative dispute resolution setting or by court order as a result of divorce litigation. The law provides guidelines for calculating maintenance amounts and determining the constraints of duration. If this matter is handled through litigation, those guidelines must be used or the court must provide an explanation for a non-guideline decision.
Pursuant to the Illinois Marriage and Dissolution of Marriage Act (IMDMA), when the combined gross income of both parties is less than $250,000 and a multiple family situation does not exist, the guideline amount is calculated by taking 30% of the payors gross income, minus 20% of the payees gross income. When added to the payees gross income, the award shall not exceed 40% of the combined gross income of the parties. The duration of the award is based on the length of the marriage:
- From 0 to 5 years, multiply the number of years by .20
- From 5 to 10 years, multiply the number of years by .40
- From 10 to 15 years, multiply the number of years by .60
- From 15 to 20 years, multiply the number of years by .80
For marriages of more than 20 years, the guidelines state that courts may award permanent maintenance or award a period equal to the length of the marriage. For marriages with less than 10 years, courts may award a fixed-term agreement that bars further support at the end of the defined period.
We Stand Ready To Help You
Our attorneys, paralegals, and administrative staff will work together to handle each aspect of your alimony/maintenance matter. We work collectively to put our clients at ease and help them stay informed at every stage in the process. We regularly handle routine, high-asset, and complex divorces and are therefore well-equipped to untangle the interwoven issues that often exist in regards to children, property, and closely-held businesses.
The Illinois Marriage and Dissolution of Marriage Act lists a number of factors to consider when determining the amount and duration of the award including, but not limited to:
- The income and property of each party;
- The present and future earning capacity of each party;
- The time needed for a party seeking alimony to be able to support himself or herself; and
- The tax consequences of alimony/maintenance awards.
We work with clients to determine equitable support and pursue options through litigation or other alternative dispute resolution channels.
Start Providing For Your Financial Future
Please contact our office today to set up an initial consultation for your alimony/maintenance matter. You may reach our Joliet divorce and family law attorneys by calling 815-770-2669. We serve Will County and Grundy County exclusively, providing intricate support focused on local legal concerns. We look forward to representing you and your family.