It is a myth that spousal support is a form of revenge. It is not about one spouse penalizing the other for past mistakes such as infidelity. Instead, it is determined by a couple's financial situation and needs. This holds significant weight, especially for women facing a midlife divorce. Research reveals that women are more likely to live below the federal poverty line compared to men. The harsh reality is that women still often earn less than men, and this earnings gap often widens as they age. You need a skilled Illinois divorce attorney to advocate for your long-term needs and ensure that spousal support is handled fairly in your divorce.
What Should Be Considered When Asking for Spousal Support?
Recent trends reveal a rising number of men and women in long-term marriages choosing to call it quits. Unfortunately, the financial repercussions tend to hit women the hardest, often resulting in a 45 percent decrease in their standard of living.
It is important to reach out to a skilled divorce attorney if you are seeking guidance on spousal maintenance and how it can help you maintain your current lifestyle. You should consider the division of marital assets, which can include pension plans and stock options. Couples should also address the allocation of marital debt and establish arrangements for child support. Your financial future is at stake, so it is crucial to navigate these matters wisely.
How is Spousal Maintenance Calculated?
When going through a divorce, safeguarding your assets and minimizing risks is crucial. Under Illinois law, there is a formula to determine the amount and duration of spousal maintenance once a judge determines that a spouse is entitled to spousal maintenance.
Keep in mind that the length of support awarded depends on the duration of the marriage, with the court possibly granting permanent maintenance for marriages lasting 20 years or more. The spousal maintenance amount is calculated as 30 percent of the payor's gross income minus 20 percent of the payee's gross income....