Help To Determine Fair Spousal Maintenance (Alimony)
The prospect of going from a two-income household to a single-income household during a divorce can be daunting. You may not know what your life will look like, what you may need to give up or whether you can afford your current standard of living. In Illinois, spousal maintenance (also known as alimony) can be awarded in marriages when one of the parties has a financial need and the other party can afford to pay.
As a Wheaton divorce lawyer with more than 30 years of family law experience in the western Chicago suburbs, Terry Fawell can help you understand when the courts will award maintenance and how the amount is determined. Fawell & Fawell offers a free initial consultation to discuss your case.
2019 Updates To Taxes And Spousal Maintenance
Beginning January 1st, 2019, the Tax Cuts and Jobs Act brought about a substantial shift in the way spousal maintenance is taxed. For the payer, spousal maintenance payments are not tax deductible. Nor are payments taxed as income for the payee. When addressing spousal maintenance, it is important to consider all tax implications.
Making Changes To Spousal Maintenance
Even though maintenance is called permanent, it is always modifiable when there is a substantial change in circumstances. It terminates upon the remarriage or cohabitation of the recipient.
Talk With An Experienced Lawyer About Your Situation
For a free initial consultation about your spousal maintenance case, email the attorneys at Fawell & Fawell or call 630-480-6253. From our office in Wheaton, we serve clients in DuPage, Kane and Will counties.