Below are just a few of the major issues parties need to consider in getting a divorce. While the courts have tried to simplify the divorce process, recent changes in the law have actually made it much more complex so that attorneys have become even more crucial in getting it done right the first time. Property division can be as simple as 50/50 split of assets and debts.
But it also can be negotiated in a number of ways as part of resolving spousal maintenance or in splitting retirement funds. The law states property should be "equitably" divided which is not necessarily "equally" divided. Illinois divorce law has now eliminated the term "custody" and now provides for "allocating parenting time" and "allocating parenting decisions".
However, parents still have much flexibility in reaching a mutual agreement that works for both. Issues of spousal support (alimony) and child support have seen drastic changes with the passing of maintenance guidelines in 2015 and then a complete overhaul of child support laws in 2017.
But it also can be negotiated in a number of ways as part of resolving spousal maintenance or in splitting retirement funds. The law states property should be "equitably" divided which is not necessarily "equally" divided. Illinois divorce law has now eliminated the term "custody" and now provides for "allocating parenting time" and "allocating parenting decisions".
However, parents still have much flexibility in reaching a mutual agreement that works for both. Issues of spousal support (alimony) and child support have seen drastic changes with the passing of maintenance guidelines in 2015 and then a complete overhaul of child support laws in 2017.
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In 2017, the child support laws were completely overhauled.
Illinois now uses an "income share" approach where both parent's income are factored into the calculation.
For 2019, Illinois has implemented modified maintenance (alimony) guidelines.
These are meant to address the been the new tax laws passed by Congress in 2018.
Essentially the new alimony statute uses net income (not on gross income) in making calculations.
This will mean most divorcing parties will need to have proper tax calculations made by a knowledgeable attorney or accountant.
Illinois now uses an "income share" approach where both parent's income are factored into the calculation.
For 2019, Illinois has implemented modified maintenance (alimony) guidelines.
These are meant to address the been the new tax laws passed by Congress in 2018.
Essentially the new alimony statute uses net income (not on gross income) in making calculations.
This will mean most divorcing parties will need to have proper tax calculations made by a knowledgeable attorney or accountant.
There are financial preparations anyone facing divorce should begin - especially if the other spouse has managed most of the money and finances.
Below is a checklist of items generally needed by a divorce attorney to get started.
Note that this is a basic list.
The more assets or liabilities you have, the more that is needed.
Stock certificates and info on options, bonds, mutual funds, annuities or any other financial asset.
Real estate documents including, recent mortgage/home equity line statements, deeds, lien information, closing statements, appraisals or market studies, .
Below is a checklist of items generally needed by a divorce attorney to get started.
Note that this is a basic list.
The more assets or liabilities you have, the more that is needed.
Stock certificates and info on options, bonds, mutual funds, annuities or any other financial asset.
Real estate documents including, recent mortgage/home equity line statements, deeds, lien information, closing statements, appraisals or market studies, .
Anthony Andreano was born and raised in Will County.
After graduating from Joliet West in 1988, he attended University of Loyola in Chicago and obtained a degree in history.
He then followed his mother's path and attended Northern Illinois College of Law.
His trial practice is limited to family law cases in Will County.
He has over 20 years of experience as a divorce attorney handling custody, visitation, property division, child support, spousal maintenance civil unions, paternity other family law case.
After graduating from Joliet West in 1988, he attended University of Loyola in Chicago and obtained a degree in history.
He then followed his mother's path and attended Northern Illinois College of Law.
His trial practice is limited to family law cases in Will County.
He has over 20 years of experience as a divorce attorney handling custody, visitation, property division, child support, spousal maintenance civil unions, paternity other family law case.
Prior to 2019, Illinois spousal maintenance was based on the GROSS income of the parties.
The calculator below only calculates spousal maintenance on the old law so it will not assist you in estimating maintenance awards set after 2018.
It may assist in estimating maintenance due under a "true up" situations under the old statute.
The amount of maintenance did not change for 2018 but the method of setting the duration of maintenance did.
The changes are reflected in the calculations below.
NOTE: This calculator is not a substitute for the advice of an attorney.
The calculator below only calculates spousal maintenance on the old law so it will not assist you in estimating maintenance awards set after 2018.
It may assist in estimating maintenance due under a "true up" situations under the old statute.
The amount of maintenance did not change for 2018 but the method of setting the duration of maintenance did.
The changes are reflected in the calculations below.
NOTE: This calculator is not a substitute for the advice of an attorney.
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