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federal tax reform, Schaumburg family law attorney, spousal maintenance awards, federal tax reform law, maintenance obligationsThe implications of divorce do not end when a marriage is formally dissolved. Parents must still interact with each other as they work to share custody in a manageable fashion. Moreover, the financial adjustments required as cash flow shifts to account for new expenses and reduced income are very necessary and long lasting.

A divorced individual’s tax liability is often directly impacted by divorce but frequently receives much less attention and consideration in the settlement process than this issue deserves. How property distribution and the method of disposition is structured, as well as support paid and received by each party, can produce serious tax consequences in the short- and long- term.

Spousal maintenance, or alimony, is an area that is particularly affected by the tax rules, and changes to the federal tax reform law are primed to directly influence how divorcing couples handle this already contentious issue.

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Posted on in Child Support

spousal support modification, spousal support, Palatine family law attorney, Illinois divorce, divorce processFinances during and after divorce are a concern for many when adjusting to single life on one income. While this change is challenging for those with established careers and secure employment, those who worked only part-time or stayed at home to raise children face a daunting task that is likely to extend into the foreseeable future.

To make this transition easier and to ward off the possibility of falling into destitution following divorce, a spouse has the right to request spousal support or maintenance from the other party. Some couples settle this issue in advance by executing a prenuptial agreement. However, the majority of couples do not address this issue until the marriage is coming to an end, especially if the parties married young or before a spouse achieved financial success in his or her career.

The founder of the Cancer Treatment Centers of America was recently ordered by an Illinois Court to pay his ex-wife $28,000 per month in spousal support, substantially down from the $400,000 she requested. For the party ordered to pay support, this obligation can feel like a never-ending burden that permanently keeps him or her tied to an ex-spouse. However, in some cases, spousal support orders can be modified, or even terminated, if the circumstances are right.

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child support rules, Income Shares System, pay child support, Barrington divorce attorney, Illinois divorcesThe payment of child support is an issue that commonly produces anxiety and agitation from both parents. The parent obligated to pay child support often believes the Court-ordered amount is too high and/or the money is not being used for the child's benefit. From the other side, the recipient parent frequently feels the required amount is too low, and the obligated parent creates unnecessary tension over this matter due to resentment.

Certainly, this situation could spill over to the child and leave a negative impression if one or both parents badmouth the other on financial issues. In hopes of reducing conflict over child support, Illinois implemented new child support calculation rules on July 1, 2017 that are supposed to bring a more balanced and fair approach to the division of support between parents.

Previously, Illinois employed a percentage model to calculate child support, which only took into consideration the non-custodial parent's income (the parent with less parenting time). This model calculated child support as a percentage of the parent's income, which was increased by the number of children he or she must support. The new child support model, income shares, is the method used in most states throughout the country.

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b2ap3_thumbnail_suspend-child-support-Barrington.jpgDisputes over child support from separated or divorced parents are fairly common, and each party has a legitimate stake in convincing the other why the money is being properly or poorly spent. Despite these disagreements, most parents ordered to pay child support realize the importance to the child's well-being, and continue to pay support regardless of contention with the other parent.

However, circumstances do arise that directly impact a parent's ability to pay child support, such as job loss and serious illness, and he or she may be motivated to ask a Court to modify the child support obligation to a level that is financially feasible.

Usually, constraints on a parent's ability to pay are connected to situations that engender some degree of sympathy or understanding. Still, some facts push others to have little to no compassion for the financially-strapped parent. One circumstance that squarely fits within this group are those parents who are incarcerated. People do not typically end up in jail or prison for following the law, but one obvious and serious consequence of incarceration is the inability of many of these parents to pay child support.

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Palatine family law attorney, child support ordersBeing a single parent is one of the hardest roles someone can fill. No one is there to take over and give the parent a break, and inevitably more of the financial burden falls on this parent. However, all parents have an ongoing obligation to financially support their child until he or she becomes a legal adult, and divorce or legal separation does not relieve this duty.

Child support is even more important today with the ever-rising costs associated with raising a child that is partially connected to new expectations of participation in extracurricular activities and use of technology. Thus, any parent who provides the bulk of childcare needs to be able to rely on regular child support payments to ensure enough money is available to provide for the child's needs.

Child support provisions are included in all divorce decrees between parties who share minor children and can also be obtained through a paternity action if the child's parents are unmarried. Understanding how the Court determines how much the child support payment should be, and how to enforce the obligation if a parent fails to pay, is essential information for any parent receiving this money.

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