Divorce Attorneys in Rockford: Canfield & McKenna

Rockford IL

20 August, 2021

6:27 PM

Description

Rockford Divorce AttorneysWhat is an Uncontested Divorce? An uncontested divorce is when both parties negotiate and come to an agreement on all of the issues surrounding the divorce prior to filing. An uncontested divorce can be completed with a single court appearance and is inexpensive.What is the Difference Between Legal Separation and Divorce?Like a divorce, a legal separation is a formal court proceeding that can resolve issues such as spousal maintenance, child support, and allocation of parenting time and responsibility while the parties live separate and apart. However, unlike a divorce, a legal separation does not permanently end the marriage and allows for the possibility of reconciliation. If reconciliation does not occur, the ultimate divorce may be less contentious and costly after legal separation because many of the issues surrounding the divorce have already been resolved in the previous court proceeding. If the Court Awards Maintenance (formerly known as alimony), How Much Will I Receive? The Illinois Marriage and Dissolution of Marriage Act provides a formula for calculating the amount and duration of maintenance if it is awarded. The amount is calculated by taking 33 ⅓% of the paying spouse’s net income and subtracting from it 25% of the receiving spouse’s net income. However, if that amount, when added to the receiving spouse’s net income would result in the receiving spouse having more than 40% of the parties’ combined net income, the maintenance amount will be reduced. Here’s an example. Spouse A has a net income of $40,000.00 and Spouse B has a net income of $100,000.00. Spouse B would be the paying spouse and Spouse A would be the receiving spouse. 33 ⅓% of Spouse B’s net income is $33,333.33. 25% of Spouse A’s net income is $10,000. The maintenance amount would be $23,333.33 (being $33,333.33 minus $10,000.00). However, their combined net income is $140,000.00, and 40% of that is $56,000.00. Paying the full $23,333.33 in maintenance to Spouse A would mean he or she would end up with $63,333.33, which is over the 40% maximum. Spouse A’s maintenance would be reduced down so he or she doesn’t receive over 40% of the combined net income. The maximum Spouse A can have is $56,000.00, and because he or she earns $40,000.00, the maintenance would be reduced down to $16,000.00. Courts determine how long spousal maintenance payments will continue using a table that multiplies the duration of the marriage by a factor that increases as the duration of the marriage increases. This sounds complicated, but the bottom line is that the longer you have been married, the closer the duration of your maintenance payments will get to equalling the duration of your marriage. If you have been married 20 years or more, the duration of spousal maintenance will either be equal to the duration of the marriage or continue indefinitely. Canfield & McKenna1111 S Alpine Rd. #704Rockford, IL 61108815-968-7200 https://canfieldmckennalaw.com/... “They constantly hold the non-custodial parent responsible for his actions that effect my children. They are fair and never ask of the NCP what they wouldn’t expect from me as the Custodial parent. They always respond to any and all questions and concerns and are great people. I highly recommend this firm.”