Tag Archives: spousal support

How Can Spousal Support Help Me Reenter the Workforce After Divorce?

Wheaton, IL spousal maintenance attorneyWhen you get divorced, you may be at a financial disadvantage, especially if you have been a stay-at-home parent or have been out of the workforce for a significant period of time. Fortunately, you may be able to receive spousal maintenance that will allow you to continue living at the standard you have come to expect during your marriage. One of the facets of spousal support that deserves special attention is reentry into the workforce. If you believe that you need education and/or training before you can begin working and supporting yourself, it is completely acceptable and reasonable to ask for financial assistance to help address these needs.

Reasons to Ask for Education Assistance Following Divorce

There are many reasons to ask that education assistance be included as part of a spousal support award. These include:

  • Self-Sufficiency—If you get the training and education you need to land a well-paying job, you will be on your way to being able to support yourself in a way that might not have been possible during your marriage. This will not just be for your benefit; if your ex-spouse contributes to your professional growth and assists you in becoming self-sufficient, you may no longer need to receive financial support.

  • Earning Potential—The pursuit of education or training will help you increase the amount of income that you will be able to earn. The more qualified you become, the higher the salary you might receive, making your life a whole lot easier.

  • Support of Your Children—Once you are entirely financially self-sufficient and making more money, you will be able to provide for your family in ways you might not have been able to before. In fact, you might be able to give your children an even better life, since you will be able to make greater financial contributions to their success, including everything from their living environment to their education.

How to Make Your Case for Education Assistance

It might seem as if asking for college tuition or funds for special training is a selfish act. The truth is, the work you contributed to your household during your marriage gives you the right to ask for support that will help you improve your situation following divorce. When you meet with your lawyer, consider the following questions:

  • Did you stay at home to take care of your kids instead of pursuing a career? This is a sacrifice you made for the sake of the marriage and the family, and you deserve to be rewarded for the hard work you put toward meeting your family’s needs.

  • Did you delay or cancel your plans for higher education so that you could support your spouse in pursuing their professional goals? This is another sacrifice you made for the good of the marriage. After providing much-needed assistance to help your spouse further their career, you should be able to benefit from your efforts.

  • Did you pass up a promotion because it would have kept you too far from home or your family life? You deserve to be compensated for the sacrifices you have made.

Contact a Wheaton Divorce Lawyer

If you have found that your marriage and subsequent divorce have put you at a disadvantage professionally, you deserve adequate compensation from your spouse. You need a DuPage County spousal support attorney to help you determine the best strategy for receiving the financial assistance you need to pursue education or training. Contact Andrew Cores Family Law Group at 630-871-1002 for a free consultation.

Sources:

https://www.isba.org/ibj/2018/12/breakingupishardertodo

http://www.ilga.gov/legislation/ilcs/documents/075000050k504.htm

How Have Divorce Cases Changed Without the Alimony Tax Deduction?

Wheaton spousal maintenance lawyerOn January 1, 2019, a provision of the federal Tax Cuts and Jobs Act of 2017 went into effect that will impact divorce cases going forward. This law eliminated the tax deduction for spousal support in divorces finalized on or after that date. The effects of this change to the law are still being felt, and many long-term results have yet to be seen. In many cases, it has required people on both sides of a divorce involving spousal maintenance to be more savvy and resourceful when it comes to reaching a settlement.

How Has the New Law Affected Taxes on Spousal Maintenance?

For many years, maintenance (which is also referred to as spousal support or alimony) was taxed as follows:

  • The spouse paying maintenance would be able to deduct the amount of support payments from his or her taxable income.
  • The spouse receiving maintenance would pay income taxes on the support payments.

Under the new law, there is no tax deduction for the payor of spousal support and no tax on these payments for the recipient. However, this change only applies to divorces that were completed after December 31, 2018. For divorces finalized on or before that date, spousal maintenance will continue to be taxed as it had been previously. In other words, the new law taxes spousal support payments in divorces completed in 2019 or later the same as child support payments.

Strategies Being Employed Under the New Tax Law

While some may see this change in the law as a substantial hindrance to those who pay spousal maintenance and a benefit to those who receive spousal support, the truth is that it may result in lower alimony payments and financial issues for both parties. Without the ability to deduct maintenance payments, a payor may be in a higher tax bracket, leaving them with less overall income to put toward support. Because of this, both parties in many divorce cases may be less willing to negotiate and agree on spousal maintenance payments.

To address these concerns, some divorcing spouses are getting much more creative and resourceful about how they reach spousal support agreements. In many cases, spouses are figuring out ways to reach fair divorce settlements without having the payments made by one party to the other be considered spousal maintenance that is subject to tax guidelines. Some strategies that people may use to lessen the effects of the new law include:

  • Funding alimony through pre-tax retirement accounts
  • Setting up a trust
  • Allocating more marital property through investments

Contact a DuPage County Alimony Lawyer

Changes to the tax laws can have a significant effect on your divorce, and you should be sure to understand the best ways to address these issues and reach a settlement that will meet your ongoing needs. At the Andrew Cores Family Law Group, our Wheaton divorce attorneys can help you determine how to protect your financial interests and ensure that you will be prepared for success as you move on from the end of your marriage. Reach out to us at 630-871-1002 for a complimentary consultation.

Sources:

https://www.isba.org/ibj/2018/12/breakingupishardertodo

https://www.marketwatch.com/story/new-tax-law-eliminates-alimony-deductions-but-not-for-everybody-2018-01-23

https://www.forbes.com/sites/heatherlocus/2019/07/12/minimizing-taxes-in-divorce-without-the-alimony-deduction/#77d7cfa78344

https://www.cnbc.com/2018/12/18/this-checklist-can-help-you-manage-your-divorce-after-new-alimony-tax-rules-go-into-effect.html

What Are the Different Types of Spousal Support in Illinois?

DuPage County spousal maintenance attorneyIn Illinois, there are a variety of factors that are considered when determining whether to award spousal maintenance (also known as alimony or spousal support). However, it is important to understand that there are different types of spousal support, and the type of maintenance awarded may play a role in determining how to proceed if your or your ex-spouse’s situation changes following your divorce. Here are some guidelines to follow so that you know what to expect if you are ever faced with spousal support dilemmas:

The Types of Spousal Maintenance in Illinois

There are three types of spousal support that may be awarded in an Illinois divorce case:

  1. Fixed-term maintenance—In these cases, the court will designate an end date on which spousal support payments will be terminated. This means that maintenance will be expected to be paid throughout the term, but once the term ends, the spouse providing support will no longer be obligated to offer any additional support.

  2. Indefinite maintenance—This is open-ended in such a way that there is no specific end date for spousal support. Indefinite maintenance will typically be awarded if a marriage lasted for at least 20 years. The only way for indefinite maintenance to be terminated before the death of either ex-spouse is if an order for modification of spousal support is granted.

  3. Reviewable maintenance—The court may order spousal support for a specific period of time, with the understanding that at the end of this period, the court can review and reconsider the terms of spousal support terms, making adjustments as necessary or terminating the support obligations.

What to Do When the Terms of Spousal Support No Longer Apply

If either you or your ex-spouse have experienced a significant change in circumstances, you may believe that the original maintenance award no longer applies to your situation. In cases when either party has gotten remarried or experienced an increase or decrease in income, it may be time to initiate a modification of spousal support.

While these types of modifications may seek to terminate spousal maintenance, they may also be used to renegotiate the terms of spousal support. For instance, if you have lost your job or have significant health problems, this may require a change in the amount of support that you pay or receive. Substantial financial changes may justify such modifications, even in a fixed-term maintenance agreement.

Contact a DuPage County Divorce Lawyer

Whether you expect to have a fixed-term, indefinite, or reviewable maintenance agreement in your divorce, you will want to work with a Wheaton spousal support attorney to make sure the terms of that agreement will meet your ongoing financial needs. Andrew Cores Family Law Group has the knowledge and skill to help ensure that the laws regarding spousal support are applied correctly in your divorce. Give us a call at 630-871-1002 for a free consultation.

Sources:

https://www.isba.org/ibj/2018/12/breakingupishardertodo

http://www.ilga.gov/legislation/ilcs/documents/075000050k504.htm