Gardi, Haught, Fischer & Bhosale LTD.

Alimony in Illinois: The New Law for 2015

By Gardi, Haught, Fischer & Bhosale LTD
October 21, 2014
Divorce,fight,problems - Young couple angry at each other sitting

A new law will soon be passed that will make calculating spousal support in Illinois easier and unified across the State.

When two spouses get divorced, the judge looks at certain factors to determine the spousal support, or maintenance agreement. These include the current and future incomes of each party, the couple’s assets, the duration of the marriage and other contributions to the marriage (e.g., one person working while the other attended school).  However, estimating the alimony in Illinois ahead of time is difficult, since currently, there is not a law on how to calculate the dollar amount. In the case of child support, factors are set—20% of income would go to child support for one child; 28% for two, etc. However, in the case of spousal support, judges make the final decisions on dollar amounts based on the information presented. Since the judgments are subjective, alimony in Illinois varies widely.

In January of 2015, an amendment to law 750 ILCS 5-504 will go into effect, and will set forth a formula for calculating spousal support. The formula determines the amount and duration of the maintenance.

When one party is entitled to spousal support, and the combined income is less than $250,000, the following formula will soon be used to calculate maintenance:

The amount of 20% of the lower grossing spouse’s income is subtracted from 30% of the higher grossing spouse’s income. This amount is used to determine the annual maintenance. Also, the maintenance cannot exceed 40% of the combined gross income of both parties. Then a multiplying factor is applied to the maintenance agreement based on the length of the marriage to calculate the final dollar amount :
. 0-5 years (.20);
. 5-10 years (.40);
. 10-15 years (.60);
. 15-20 years (.80).

Marriages longer than 20 or more years, may receive a court order of permanent maintenance or maintenance for a period equal to the length of the marriage.

So should you wait until 2015 to get divorced? Although the law has not officially taken effect, we see that many judges have already begun using the calculation in determining spousal support. At the very least, a good attorney will be aware of the law and can prepare you for parallel circumstances.

If you have questions about alimony in Illinois, the experienced family law attorneys at Gardi, Haught, Fischer & Bhosale LTD can provide answers. Request A Case Evaluation below.

Request A Case Evaluation

Request a Consultation

heading-bottom-graphic

related articles:

heading-bottom-graphic
Category

Client Testimonials

heading-bottom-graphic
Our team partnered with Gardi, Haught, Fischer, & Bhosale LTD. on a recent transaction, and we appreciated their dedication and professional approach to closing the deal. We’re looking forward to more successful collaborations ahead
We just had great experience with Tom Haught and his paralegal Courtney Kropf. The communication is clear and fast. All emails were replied within 30 minutes. We will definitely work with Tom Haught again.
Was recommended to them from my company. They did an excellent job and always answered all my questions. Were always upfront with all things and made sure I understood everything that was explained to me.
We used the law firm during the sale of our house. We dealt with Mr Haught and Courtney, who made the process very smooth. They were professional, yet very friendly to deal with.I would not hesitate to recommend them to my family and friends.
We have used Tom Haught for two home purchases and one sale over the years and continue to be impressed by his professionalism, responsiveness, and thoroughness. Reasonable pricing too. Highly, highly recommended.
Gardi, Haught is one of professional firm, I have been with G&H since last 8 years in all legal matters.RegardsWaseem Chaudhry
We worked with Tom and Courtney mainly on our recent closing. While it did not go as planned (all the other side’s issues) they did a great job keeping us informed and in track. Highly recommend.
Aaron Novasic was fantastic in handling my case. He stayed in touch, told me what was going on and what to expect, and most importantly he fought for me the entire way. Couldn't be happier having him represent me.
js_loader