110 E. Schiller Street, Suite 320, Elmhurst, IL 60126

Weiss-Kunz & Oliver, LLC312-605-4041

CHICAGO
 ⚫ PARK RIDGE
 ⚫ ELMHURST -

Subscribe to this list via RSS Blog posts tagged in alimony

IL divorce lawyerThere are so many things that you and your spouse must figure out before you can actually settle your divorce. You must determine how you will divide your marital property, who will live where, whether or not either of you are entitled to spousal support and the list goes on. When you have children, that list is even longer because you must also determine how you and your spouse will share parenting time, how parental responsibilities will be allocated, how much child support will be paid each month and where the child will live. With all of that, finally signing on the dotted line of your divorce agreement can seem like finishing a marathon.

However, when you divorce a spouse that you have children with, you will never truly be completely divorced from them. In fact, some of the same issues that you had to settle during your divorce may pop up again if you or your spouse ever get remarried. An Illinois divorce lawyer can help you request a modification of your divorce agreement in case either you or your ex get remarried.

Remarriage and Spousal Maintenance

The Illinois Marriage and Dissolution of Marriage Act (IMDMA) states that any obligation to pay maintenance is terminated when the spouse receiving the maintenance remarries or cohabits with another person on a permanent, conjugal basis. The person receiving the maintenance also has a duty to notify the paying party before he or she gets married, as the maintenance payments end the day the cohabitation begins.

...

DuPage County family law attorney

Coronavirus, or COVID-19, is on everyone’s minds these days. The World Health Organization (WHO) declared it a global pandemic, and President Trump recently declared a national emergency as the spread of the virus continues to expand across the country. The virus is thought to have originated in China, but it quickly spread to Europe and the United States. At the time of this writing, more than 198,000 people have been infected in more than 80 countries. Here in Illinois, Governor J.B. Pritzker ordered all restaurants and bars to close except for carryout orders. In addition, Illinois schools are closed until further notice, and health officials are urging citizens to avoid gatherings of 50 or more people. Many people are working from home now, and in some cases, workers have been temporarily laid off. Those who have pressing legal matters may be wondering what effect the virus will have on divorce or family law court cases. Read on to learn more about coronavirus, its impact on the Illinois court system, and how Weiss-Kunz & Oliver, LLC can assist you during this difficult time in our nation’s history.

Signs and Symptoms of COVID-19

It is imperative that anyone who is exhibiting signs of coronavirus seeks medical attention as soon as possible. In order to avoid serious or life-threatening complications, as well as potentially spreading the virus through human contact, those who have been exposed are advised to self-quarantine for 14 days.

...

Illinois divorce attorney

Divorce is not an uncommon occurrence in the United States — hundreds of thousands of couples are divorced each year. In the past couple of decades, the number of older Americans getting divorced skyrocketed. These gray divorces, or divorces involving couples who are over the age of 50, saw the divorce rate doubled between 1990 and 2015. For those over the age of 65, the divorce rate tripled in the same time span. Despite the many reasons why a couple over the age of 50 would want to divorce, these types of divorces are often complicated and deal with issues that many other divorces do not have to deal with.

Spousal Support in a Gray Divorce

...

WKOSpousal support, also known as maintenance, is court-ordered payments one spouse pays to the other spouse after a divorce.

The 750 Illinois Compiled Statute 5/504, titled ‘maintenance’ states that  “the court may grant a maintenance award for either spouse in amounts and for periods of time as the court deems just, without regard to marital misconduct, and the maintenance may be paid from the income or property of the other spouse.”

Ordered Maintenance

...
Illinois divorce attorney, Illinois family lawyer, Illinois child custody lawyer,With the new year fast approaching, 2019 is right around the corner. While this is exciting for some, couples who have just filed for divorce or are mid-divorce could see some not-so-nice changes with the new year. A law that was passed in December 2017 will come into effect beginning January 1, 2019, and will affect any couple who has not finalized their divorce by December 31, 2018. Act Will Change Tax Implications For Divorcing Couples The Tax Cuts and Jobs Act (TCJA) was passed in December of 2017 and made changes to the tax code that will affect about half of Americans in some way, shape or form when it goes into full effect at the beginning of the year. For divorcing couples, the TCJA will affect the tax implications of spousal support (also known as alimony). The act will change the existing 77-year-old law on who pays taxes on spousal support. Old Law vs. New Changes Any couple who finalizes their divorce before December 31, 2018, will adhere to the current rules on who pays taxes on spousal support. As of now, the person who is paying the spousal support can deduct the payments on their taxes. The person who receives the spousal support must pay taxes on the payments depending on their tax bracket. Under the new law, spouses who pay support payments will not be able to deduct the amount on their taxes and the spouse who receives the payments will not pay tax on them. Implications of the Change Couples who are currently going through a divorce have more pressure to finalize their divorces before this new law goes into effect. The American Academy of Matrimonial Lawyers estimates that divorces will change significantly in the way they are settled and that divorce cases will become more hostile than before. The organization has also stated that couples who currently have prenuptial agreements should reexamine the documents and update them based on the new law. Get in Touch with an Elmhurst, IL Spousal Support Attorney

It is no secret that a divorce can be a messy and complicated process. With the new law that will take full effect next year, your divorce could become even more complicated. At Weiss-Kunz & Oliver, LLC, you can have peace of mind knowing that we are here to help you throughout your divorce process and will help you make the best decisions about spousal support and its effect on your taxes. Our highly-skilled Lincolnwood, IL spousal support attorneys understand the importance of receiving support and that spousal support is something that you may depend on, especially right after your divorce. Contact our office today to schedule a consultation by calling 312-605-4041.

 

Sources:

https://www.efile.com/tax-deduction/income-deduction/divorced-tax/

...
bbb cba dcba isba lcba lod super lawyers 10 best asla collaborative expertise
Facebook Twitter
Search
Back to Top