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Category Archives: Spousal Maintenance

Illinois alimony lawyersAlimony, though awarded less frequently today than it once was, is still a component in some divorces. Thanks to the changing tax laws under the Tax Code and Jobs Act, the rules that once applied will be changing as well. More specifically, parties who pay alimony will not be eligible for a tax deduction if their divorce is finalized after December 31, 2018. Learn more about how this new law may impact your post-divorce finances and discover some strategies for minimizing the damage in the following sections. 

Alimony Under the New Tax Law

The new tax law removes the deduction that alimony paying spouse once received. Sadly, this can keep them in a higher tax bracket, which may ultimately impact the amount of alimony that they are willing to pay. The receiving spouse, though no longer required to pay taxes on their alimony money, may receive a lower award, thanks to their spouse’s tax bracket stance. The new tax law may also hinder negotiations, making for a longer, more drawn-out divorce, which also drives up the cost of divorce. In short, the new law could have a significant impact on the finances of all involved parties, both during and long after the divorce. 

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Illinois divorce lawyersTaxes, though not often discussed, are a critical element in almost every divorce, and they are especially important when alimony may be owed. Thanks to the new Tax Code and Jobs Act, everything about alimony and taxes will change, come the start of 2019. Find out how and discover what it could mean for your Illinois divorce in the following sections. 

The New Tax Law and Divorce - An Overview

While the new tax law may not affect all divorces, it is likely to have a significant impact on cases involving alimony. Parties who pay support and complete their divorce after December 31, 2018, will no longer receive a tax deduction at the end of the year, and receiving spouses will no longer be required to pay taxes on the alimony they receive. At first glance, this might seem like a benefit for the family, but appearances can be deceiving. 

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Illinois alimony lawyersAlimony is meant to provide a disadvantaged party with the financial resources they need to recover after a divorce but it can be a burden for the paying party. In fact, many rely on the tax break they receive at the end of the year to even out the expense. Sadly, that tax could be eliminated if the GOP bill tax bill is passed by the Senate, as is. Learn more about how its passage could impact you in divorce and what an experienced attorney can do to help.

The GOP Bill and Divorce

As of right now, paying parties can claim their alimony as a tax deduction. This not only reduces the individual’s tax load at the end of the year, but it also helps to keep more money in the family unit. If eliminated, it could increase the risk of divorce-induced poverty among already at-risk families, such as those classified as low to middle income by the government.

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Illinois divorce lawyersAlthough alimony is far less common than it once was, it is still a factor in divorces today. Under what circumstances is alimony awarded, and how can you tell if you may be entitled to it in your Illinois divorce case? The following information explains, and it provides you with some details on why and how the assistance of an experienced family law attorney can help.

Alimony in an Illinois Divorce

Despite the common misconception, alimony is not awarded in divorce, simply because one asks for it. Instead, there are certain factors that the courts use to determine if a party may be eligible, including:

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DuPage County alimony lawyersAlimony, though less common now than it once was, is still awarded in some divorce cases. More specifically, it may be awarded to a disadvantaged spouse – an individual that earns less money than their spouse, or one that has given up their career, education, or employment to take care of the home or children. Stay-at-home fathers are included in this definition. Learn more about your right to pursue spousal support in an Illinois divorce, including how an experienced divorce lawyer can help improve your chances of a favorable outcome.

Gender No Longer a Determining Factor

Not long ago, alimony was awarded mostly to stay-at-home moms and women that did not work outside the home. With family structures changing, and more women serving as the primary or sole breadwinner these days, the gender bias for alimony no longer exists. In fact, statistics indicate that some 40 percent of wives now earn more than their husbands, and the pursuit of alimony among men is becoming more and more common.

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Warrenville Office
Address28371 Davis Parkway
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Warrenville, IL 60555
Phone(630) 657-5052
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Wheaton Office
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Fax(888) 350-9195
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Phone(815) 582-4901
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Davi Law Group, LLC handles family law, estate planning and real estate matters for clients in Chicago and throughout the western suburbs including DuPage County, Will County, Kane County, Kendall County and Cook County and the cities of Aurora, Bloomingdale, Bolingbrook, Carol Stream, Darien, Downers Grove, Elmhurst, Geneva, Glen Ellyn, Hinsdale, Joliet, Kendall County, Lisle, Lombard, Naperville, Oak Park, Oak Brook, Oswego, Park Ridge, Roselle, St. Charles, Villa Park, Warrenville, Wheaton, Winfield, Woodridge and Yorkville, Illinois.
Warrenville Office
Address28371 Davis Parkway, Suite 103, Warrenville, IL 60555
Phone(630) 657-5052
Fax(888) 350-9195
Wheaton Office
Address1776 S. Naperville Road, Building A, Suite 105, Wheaton, IL 60189
Phone(630) 580-6373
Fax(888) 350-9195
Chicago Office
Address321 N. Clark Street, Suite 900, Chicago, IL 60654
Phone(312) 985-5676
Fax(888) 350-9195
Joliet Office
Address58 N. Chicago Street, 7th Floor,
Joliet, IL 60432
Phone(815) 582-4901
Fax(888) 350-9195
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