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New Illinois law on spousal maintenanceFebruary 22, 2019 | Category: Divorce
The Illinois law related to spousal maintenance (formerly called alimony) changed on January 1, and here’s what it means for divorcing spouses.
The Illinois courts now follow “guidelines” on spousal maintenance which will likely be more equitable for both spouses.
The income threshold changed to a combined income of $500,000, up from $250,000. The wording “permanent maintenance” was changed to maintenance “for an indefinite term,” meaning that long-term maintenance is more likely to be ended after at least the number of years equal to the duration of the marriage.
The federal tax law also changed. Maintenance payments are no longer tax deductible for the payor and no longer considered taxable income for the recipient. Wise couples will sit down with their lawyer, accounting, and estate planning experts to help make these changes work best for them and their particular circumstances.