Elmhurst Divorce Attorneys

Divorce Attorneys for Spousal Maintenance in Elmhurst, Illinois

A divorce can bring a sudden change to your financial situation. You will likely need to make adjustments to your spending after separating from your spouse, since you will be relying on a single income. Decisions about property division can affect your finances, and if necessary, one spouse may be required to pay spousal support, also known as alimony or maintenance, to the other.

Depending on your and your spouse's earnings, you may be asked to pay spousal maintenance, or you could receive payments from your spouse. If spousal support will play a role in your divorce, figuring out a financial plan for your future should be one of your top concerns. At Mevorah & Giglio Law Offices, our skilled divorce lawyers will work with you every step of the way to help you reach a favorable result. We have distinguished ourselves as tireless advocates for our clients since 1979, and we are proud to represent the people of Elmhurst as they address family law issues.

Will You Have to Pay Spousal Maintenance?

In Illinois, spousal maintenance is only a factor in a minority of divorce cases. One spouse must demonstrate a financial need that the other has the ability to cover, and payments will usually only be appropriate if one spouse makes dramatically more than the other. Alimony may be a factor in cases where one party has been a stay-at-home parent without a regular income.

Other factors, such as the length of the marriage and the sacrifices a person has made for their family, may influence the court's decision on whether spousal maintenance should be paid. If you have been your family's primary or sole income earner for several years, then you may be required to pay maintenance during and after your divorce. Often, the final decisions about spousal maintenance are based on several overlapping factors rather than just one, and the goal will be to ensure that both you and your spouse can meet your financial needs.

Types of Spousal Maintenance

There are four distinct kinds of spousal maintenance that may be awarded in an Illinois divorce. In some cases, temporary support may be used to ease the adjustment out of the marriage, while others may provide long-term arrangements that will help a spouse maintain financial stability. Spousal support may include:

• Fixed-Term Maintenance: In most cases, spousal support will take the form of a series of payments with a definite endpoint. Typically maintenance will be paid for a percentage of the amount of time a couple was married.
• Reviewable Maintenance: In some cases, a spouse may take steps to become financially independent, but they may require support in the interim. In these cases, spousal support payments may be made during a set period of time, and the case may be reviewed periodically to determine if payments should continue or if they will no longer be necessary because the recipient can support themselves.
• Indefinite Maintenance: In some cases, payments may continue to be made without any set endpoint. This option may be appropriate in cases involving marriages that lasted 20 years or more.
• Temporary Maintenance: This form of spousal support will consist of a short-term series of payments to a spouse while divorce proceedings are ongoing. Depending on the decisions made in a divorce settlement or judgment, another form of maintenance may be ordered after the divorce is finalized.

Issues to Address in a High Net Worth Divorce

A divorce where a couple's assets exceed $1 million is considered a high net worth divorce. In cases like these, the court's main priority when dividing assets and addressing financial concerns will be is equitable distribution, which may not be a 50/50 split of marital assets. The value of real estate holdings, businesses, and liquid assets are all considered in the total appraisal of the marriage's net worth.

When addressing issues related to spousal support, the same criteria will apply in high net worth divorces as in other divorce cases. Factors such as the length of the marriage, the ages of the spouses, and their respective incomes may play a role in decisions about alimony. However, the formulas used to calculate maintenance payments may not necessarily apply in a high net worth divorce. Instead, each case will be evaluated on an individual basis.

To protect your assets during your divorce, it is crucial to have an experienced attorney by your side who can help you understand the best ways to address financial concerns. At Mevorah & Giglio Law Offices, we will advocate for solutions that will meet your ongoing needs and ensure that you can succeed in the future.

Speak With Our Elmhurst, IL Divorce Lawyers

No matter how complex your divorce may seem, the attorneys at Mevorah & Giglio Law Offices will work to help achieve the best possible outcome for you. With over 40 years of experience, our firm can help you determine the best strategies for success in your divorce. As you prepare for the end of your marriage, come talk to us; our lawyers are ready to listen. Contact us at 630-932-9100 for a free consultation.