For those getting into a divorce for the first time, there are many new terms that may be coming up. You may have heard of alimony and maintenance and thought there was a difference between them. Both of these terms mean the same thing. It is important to know what alimony (or maintenance) is for your divorce case in Mascoutah, IL. Here we will be explaining what these payments are.
What is Alimony or Maintenance?
Alimony or maintenance is money that one spouse in a divorce is awarded from the other spouse. The payment may be paid in full once for the time the divorce is finalized, or it could be in the form of monthly or weekly payments made for a certain number of months. They may also go on until a certain event is reached such as a death, a remarriage, or some other specific time. By law, permanent alimony payments have been eliminated in a majority of states, however, alimony payments can end up being permanent regardless depending on the age of the people involved. The division in the marital property can affect alimony payment as well. The alimony is paid to the spouse in the relationship that is deemed to not be the primary wage earner in the family.
Factors in Alimony Amount
The amount of the payment can be factored by many things including education level and work history, not to mention if one of the spouses have a disability that hinders their earning capacity. Many other factors are looked at by state courts when determining the correct amount. Things that can also influence the amount of alimony include the length of the marriage, the future earnings potential for both spouse’s assets, and income before the marriage and divorce. The tax consequences to each party that resulted from the divorce, lost benefits from the divorce such as insurance and retirement funds, wasting of assets by a spouse, and more. The biggest factor in deciphering the right amount comes down to how much more one spouse is making than the other. In Mascoutah, IL, there are laws in place which will add a mathematical approach to help determine the amount of alimony required.
Many dread the idea of paying alimony. You have the right to fight it off if you do not want to have to pay it. If you are looking for a local divorce lawyer in Mascoutah, IL that can help you in your divorce case, give our experienced team over at The Law Offices of Robert Elovitz a call today!