Spousal maintenance in some states is formulaic, while others rely on case law. In either scenario, there needs to be a determination of income (not assets). For most involved in farming and ranching or other kinds of agri-business, determining income is anything but straightforward. Typically, a spouse is required to pay for his/her health insurance after the divorce, but if …
In New York State, the income cap for maintenance payor’s income in calculating temporary maintenance and post-divorce maintenance has increased to $184,000.00. Here is how maintenance would be calculated in an example where the incomes are as follows: Payor spouse’s Income: $200,000.00 per year. Payee spouse’s Income: $80,000.00 per year. Based on these figures, the adjusted gross income of the …
Once it is established that a spouse will be granted maintenance, the next question is: for how long? There’s not much guess work when it comes to the duration of maintenance because it is calculated under 750 ILCS 504(b-1)(1)(B) by a formula. The length of the marriage is multiplied by: • 20% if the marriage was for 5 years or …
I get a lot of questions from client regarding spousal maintenance (or alimony) and when it terminates. No matter how much maintenance is awarded or how long the duration of the maintenance is, in all cases maintenance ends upon remarriage of the recipient spouse, cohabitation of the recipient spouse with another man or woman (even if you are not legally …
Happy Third Year Anniversary to this blog! Seems like just yesterday I was writing this second year anniversary post. Time flies when you are having fun! It’s been an exciting third year of this blog. Here are a few highlights: 1. This law blog (“blawg”) made the American Bar Association’s (“ABA”) Top 100 Blawg list. Nominations for 2012 are right …