When calculating alimony payments after a divorce, the court can look at a wide range of factors before it comes to a decision. It is also important to note that it is not just financial factors that get weighed. So if you are worried that your financial situation does not paint the whole picture, you can point to other aspects of your marriage and make a stronger argument for a better settlement. A Tazewell County alimony lawyer can help you do that.
How Do Income and Assets Affect Alimony Payments?
Of course, income and assets of both parties can have some significant effects on how alimony payments are calculated. The court is sure to look at the salaries of each spouse, their total earning capabilities, and what other assets they possess. Does someone have a trust, inheritance, or family money? Does someone have a rental property that generates income? All of these questions are important to answer, but finances will not be the only thing the court focuses on.
What Else Can Affect Alimony Payments?
Some other factors that could affect alimony concern how other duties in marriage were split up and what non-financial contribution a spouse made. The court could also look at sacrifices one spouse made to better their partner’s station in life. So a judge might look at:
- The age and health of both spouses
- The length of the marriage
- The employability of each spouse
- Whether one spouse sacrificed so that the other could receive training or education that advanced their career
- How long it would take to get a spouse the education and training needed to be self-sufficient
- Childcare obligations
So any of these factors can affect what kind of alimony is awarded, how much payments are, and how long an agreement could last.
What Kind of Alimony Can Be Awarded in Illinois?
There are actually multiple types of alimony in Illinois. The first is temporary maintenance. This requires one spouse to make alimony payments during the divorce process. Then their spouse is on their own.
The second is long-term alimony, which can be divided up into subcategories of its own. You or your spouse could be ordered to pay:
Fixed-term maintenance: As its name implies, one spouse makes alimony payments for a specified amount of time. Then their obligation ends.
Indefinite maintenance: The spousal support goes on until one party dies or circumstances change in such a way that there is reason to change the agreement.
Renewable maintenance: One spouse makes alimony payments for a certain period of time. When that time period ends, the court can review and see if the spousal support agreement should be renewed, changed, or ended altogether.
Contact Our Law Firm Today
If you are getting a divorce, make sure that you have a compassionate and experienced attorney fighting on your side. Contact Butler, Giraudo & Meister, P.C. and schedule a consultation with our team. We would love to tell you more about how we can be of assistance.