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Wheaton alimony lawyersMoney is often one of the leading sources of contention during a divorce, and it is about to get worse, thanks to the new tax law regarding alimony payments. Set to take effect on January 1, 2019, this new law will eliminate the tax credit that paying parties used to receive at the end of the year. Learn what this could mean for your Illinois divorce, and discover how a seasoned divorce lawyer may be able to help you mitigate the potential risks and issues that could arise. 

A Closer Look at the New Alimony Tax Law

In previous divorces, and those completed before January 1, 2019, alimony payers receive a tax credit at the end of each tax year. The receiving party is also required to report their alimony payments as income to the Internal Revenue Service (IRS). Both of these aspects of divorce will be changing at the beginning of next year. That means there will no longer be an incentive for paying alimony, and fewer parties will be willing to pay it. That can hinder the financial well-being of receiving parties, as well as the paying parties, perhaps even more so than many realize. It can also make for more contentious divorces, and that can increase the stress levels of all involved parties - especially any minor children that the couple may share. 

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DuPage County family law attorneys, modifying spousal maintenanceYour circumstances can change considerably in the months and years after your divorce, especially your financial situation. The spousal maintenance arrangement ordered by the court as part of the dissolution of marriage process may not be appropriate anymore, but you do have options for amending the terms. While you should discuss the specifics for modifying spousal support with an Illinois divorce lawyer, an understanding of certain general information may prove helpful.

State Law on Spousal Maintenance Modification

The Illinois Marriage and Dissolution of Marriage Act provides that an order for spousal maintenance can be modified by showing a “substantial change in circumstances.” Both the ex-spouse receiving support and the one paying it can request a change to increase, decrease, or terminate maintenance payments. The law lists a number of factors indicating a substantial change in circumstances, including:

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