The state of Illinois does not have a set formula for calculating alimony, also known as spousal support. Because of the nuances of the law, you should hire an attorney to assist you with determining a fair maintenance payment. You should not try to work it out on your own.
Permanent maintenance is often awarded when one spouse is at a significant financial disadvantage, either because he or she is has no employment history or is only capable of finding low-paying work. Even though the word “permanent” is used, a maintenance award can in many instances be modified in the future based upon a change in circumstances.
Here are some of the factors used to determine spousal support:
- The contribution of each spouse to the value of marital property (a homemaker is explicitly recognized as a value-contributor)
- Value of property assigned to each spouse
- The economic well-being and work history of each spouse
- Prenuptial agreements
- Child custody and child support which must be paid
This is not an exhaustive list. The divorce attorneys at Thaddeus M. Bond Jr. & Associates, PC will be able to walk you through exactly what will be considered in drawing up a spousal support arrangement.
If you're a resident of the Lake County area and you need to representation with a spousal support matter, feel free to contact us at (847) 599-9101.