Tuesday, July 23, 2024

Retirement And Maintenance In An Illinois Divorce

Maintenance, formerly known as “alimony” in Illinois, is a way to further ensure an equitable division of finances between two spouses who have unequal incomes. One spouse has relied on the other spouse for regular financial support, the Illinois legislature states the supporting spouse should continue to support their ex-spouse in a definite amount for a period of definite time. Ordering maintenance for a defined duration of time makes sense if the supporting spouse is going to be working for the entirety of that defined duration of time. But, if the supporting spouse is likely to retire during that defined duration, certain considerations must be taken.

from Russell D. Knight | Family Lawyer Chicago https://rdklegal.com/retirement-and-maintenance-in-an-illinois-divorce/

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