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630-575-8585

2015 Spring Road, Oak Brook, IL 60523

Top Chicago Area Divorce Lawyers
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Western Springs spousal maintenance attorney

The end of a marriage not only brings dramatic personal changes but also considerable financial consequences. If you are considering divorce, you may wonder how spousal maintenance, also referred to as spousal support or alimony, is handled in Illinois. Maintenance payments can be a significant expense for the payor spouse and a significant source of financial support for the recipient spouse. Disputes about the terms of spousal maintenance can be contentious. That is why it is essential that you seek guidance from an experienced divorce attorney in order to understand how this type of support is calculated and your rights regarding these benefits.

When Is Spousal Maintenance Awarded?

If spouses had previously signed a marital agreement such as a prenup that contains directions regarding spousal maintenance, the court will typically uphold these directions. However, there are many issues that may cause a prenuptial agreement to be declared invalid, such as if it was signed under coercion or it contained fraudulent information about assets.

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Oak Brook prenuptial agreement attorney

Research shows that prenuptial agreements, or “prenups,” are becoming increasingly popular – especially for the millennial generation. Many millennials are getting married later in life compared to their parents or grandparents. They may already own a home, a small business, or have other substantial assets by the time they tie the knot. They may also have accumulated significant debts, such as student loans. A prenuptial agreement is a great way for couples of any age to define and protect their financial rights in the event that their marriage ends in divorce. If you are considering creating a prenuptial agreement, it is essential to know the common mistakes that can make this important legal document invalid.

Financial Transparency Is a Requirement

A prenuptial agreement mainly deals with financial issues such as property or asset division and spousal maintenance (alimony). In order for a couple to come to a resolution about the details of their prenup, they must both fully disclose all of their assets, income, and debts. If a spouse lies about his or her finances, then the terms contained in the prenuptial agreement are based on misinformation. If the couple does end up filing for divorce, and it is determined that the prenuptial agreement was founded upon false financial information, the document may not be legally enforceable.

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DuPage County spousal maintenance attorney

In some divorce and separation cases, a higher-earning spouse is required to make payments to a lesser-earning spouse. These payments are called spousal maintenance under Illinois law, but they are also commonly referred to as spousal support or alimony. There are a variety of reasons that a spouse may be required to make these types of payments. Spousal maintenance arrangements may be stipulated in the couple’s prenuptial agreement, or a large discrepancy in the spouses’ assets and incomes may necessitate maintenance. Whether you are the payor or the recipient of spousal support, you may be wondering how long maintenance payments will be mandated. Like most family law concerns, the answer will depend on several factors.

Spousal Maintenance Duration

If the spouses have signed a valid prenuptial or postnuptial agreement that specifies the terms of spousal maintenance, the court will typically uphold these terms. If the spouses did not have an agreement dictating spousal maintenance arrangements, the court will consider factors such as the spouses’ income, assets, employability, health, impairment to future earning capacity, and other elements to determine whether maintenance is appropriate. Typically, spousal maintenance is intended to give a lesser-earning spouse time to gain the skills and education needed to become self-supporting, and it can also ensure that a person is able to maintain the standard of living they enjoyed during their marriage.

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Western Springs prenuptial agreement attorney

Prenuptial agreements, or “prenups” for short, have long been the subject of misinformation and misunderstanding. Outrageous celebrity weddings, television shows, and movies have shown prenuptial agreements in an unfairly negative light. However, signing a prenuptial agreement before getting married can be a responsible and beneficial decision for many couples. Read on to learn how a prenuptial agreement or premarital agreement can benefit you and your partner in Illinois.  

A Prenuptial Agreement Protects Your Financial Interests

The main benefit of a prenuptial agreement is that it protects the financial interests of both parties should the marriage end in divorce. In Illinois, a divorcing couple’s marital estate is divided according to equitable distribution laws. Through equitable distribution, property and debts are divided fairly, but not necessarily evenly. If you and your soon-to-be spouse sign a prenuptial agreement, you have the option to make your own property division decisions in advance and override these state laws during a divorce.

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Botti Marinaccio, LTD.

630-575-8585

2015 Spring Road, Oak Brook, IL 60523

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