Illinois Divorce Information Formula
Description
How to fill out Illinois Divorce Worksheet And Law Summary For Contested Or Uncontested Case Of Over 25 Pages - Ideal Client Interview Form?
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FAQ
Marital property does not have to be split evenly, rather it is split equitably. This means the court splits the assets based on what each party deserves. The split could be 50/50, but it could also be 60/40, 70/30, or some other ratio.
The basic formula for alimony in Illinois is fairly simple: (33% of the payer's net income) ? (25% of the recipient's net income) = the yearly maintenance paid. One condition to this is that the amount awarded cannot cause the receiving spouse to earn more than 40% of the couple's combined net income.
What are the grounds for divorce in Illinois? The parties have lived separate and apart for a continuous period of at least six months prior to the entry of judgment dissolving the marriage, and both parties agree to waive the two-year requirement.
Each spouse is entitled to a fair share of the couple's marital estate taking into account factors such as the duration of the marriage, financial and non-financial contributions, access to separate assets, child custody responsibilities, and post-divorce economic circumstances.
Each spouse is entitled to a fair share of the couple's marital estate taking into account factors such as the duration of the marriage, financial and non-financial contributions, access to separate assets, child custody responsibilities, and post-divorce economic circumstances.