This is a generic Affidavit to accompany a Motion to amend or strike alimony provisions of a divorce decree because of the obligor spouse's changed financial condition. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Alimony Calculator In Illinois In Minnesota
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Equitable distribution of marital wealth Minnesota is an equitable distribution state. This does not necessarily mean a 50-50 settlement of everything. But the law presumes that all assets and debts acquired during the marriage will be divided equitably, including: Your house and other real estate.
Unlike a child support order in Minnesota—which is based on a specific calculation—there is no formula for judges to use to setting alimony. Instead, judges have broad discretion when creating a maintenance award.
40% of the high earner's net monthly income minus 50% of the low earner's net monthly income. For instance, if Spouse A earns $5,000 per month and Spouse B earns $2,500 per month, temporary spousal support might be calculated as follows: 40% of $5,000 = $2,000. 50% of $2,500 = $1,250.
Once the judge is satisfied that one spouse meets the grounds for maintenance, the court will evaluate the following factors to decide the amount, duration, and type of support: the requesting spouse's financial resources, including marital property, and the spouse's ability to meet needs independently.
In Illinois, the duration of alimony, or spousal maintenance, depends on the marriage's duration. In a marriage of under 5 years, maintenance payments last for 20% of the marriage's length. For a 9-10 year marriage, alimony payments last 40% of the marriage's length.
Illinois' Spousal Maintenance Formula Take 33.3% of the payor's net annual income. Subtract 25% of the recipient's net annual income. The difference is the annual maintenance amount.