When a divorce is finalized, the court issues a judgment dissolving the parties’ marriage. When the parties resolve their divorce on agreement terms instead of a trial, the judgment consists of the settlement details, which are contained in a document called a Marital Settlement Agreement, which settles the financial concerns, and the Allocation Judgment, which
Continue Reading »In Illinois, we sometimes award a party support from their former spouse, called maintenance. Many other states typically refer to this as alimony or spousal support. In Illinois, the maintenance statute indicates that spousal support will terminate if the recipient of the maintenance cohabits on a continuing, conjugal basis with another person while receiving maintenance.
Continue Reading »The financial implications of a divorce can affect you for the rest of your life. This can be especially true when there is a significant income disparity between spouses. A large income disparity can occur when the wife was a stay-at-home mother while the husband was self-employed and the sole income earner for the family.
Continue Reading »Divorce is expensive. There is no way around that. Between lawyers and filing fees, along with the emotional cost, it can get expensive to get divorced. It also does not help that partners are not always on the same grounds financially when getting divorced. For example, one spouse may earn less due to their chosen
Continue Reading »One of the most common reasons for divorce is financial deception. Part of that deception often involves the combination of a spouse lying about how much they make along with hiding income from their husband or wife in a variety of ways. There are several ways that this deception can play out. Here are a
Continue Reading »Wonder if your spousal maintenance is modifiable? This question was addressed in Scarp v. Rahman when the father in the case of sought to modify his maintenance obligation. The trial court would not allow the modification so he sought an appeal. The appellate court affirmed the trial court’s decision and said that because their judgment
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