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How To Maximize Alimony

If you’re thinking of getting a divorce, or perhaps even in the middle one, you’ll know it isn’t an easy journey, especially if you have children.  With the emotional stress also comes financial, as you’ll want to ensure you and your children can have a stable life even after you’ve separated from your spouse.

Here are some things to consider to make sure you’re getting the alimony, or spousal support/maintenance, that you deserve:

  1. Alimony/spousal support is dependent on multiple factors such as income of both parties, how long the marriage has lasted, the health and age of each partner, whether one spouse’s career was affected by having children, and more.
  2. The bottom line is that spousal support should allow you (and your children) to maintain a standard of living to which you were accustomed, and to be fair to the lower-earning spouse, especially if they gave up their career or financial contribution to tend to the marriage and family.
  3. Take some time and break down all of your expenses to work out a budget.  You won’t remember all the small items you buy, so you need to sit down and think of every small expense you usually incur.  It may be best to take some weeks and track all your transactions.  This will give a good idea of how much support you really need.
  4. Consider the tax implications.  Alimony is considered general income and you will need to pay taxes on it.
  5. Hire a family law attorney.  A lawyer will work with you to maximize your spousal support and make sure you are compensated for what you deserve.  Illinois also recently passed a law that has established a formula to determine the amount of alimony, so you’ll want an attorney to help you navigate through exactly how much maintenance you can expect.

Smith & Weer, P.C. are experienced family law lawyers Peoria IL has to offer.   We understand alimony and divorce law can be hard to navigate and can assist you with any questions or concerns you may have.  Contact us today to schedule a free consultation or call our office at 309-694-6700.

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