Some people receive alimony (spousal maintenance) from their exes during or after a divorce. Per Illinois Statutes Chapter 750 Families, Section 5/504 (b-1)(1)(A), the alimony amount is calculated by taking 33 1/3 percent of the payor’s net annual salary minus a quarter of the payee’s net annual salary.
As a payee, you are probably wondering whether it’s better for you to collect alimony on a monthly basis or as a lump sum. Read over the benefits both options offer.
Monthly alimony advantages
Here are some perks of receiving monthly alimony:
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