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Innhold levert av Viktoria Altman. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Viktoria Altman eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
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An Increase In Income After An Illinois Divorce - Russell D. Knight

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Manage episode 444203576 series 3376163
Innhold levert av Viktoria Altman. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Viktoria Altman eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

From Law Office of Russell D. Knight – In this podcast episode, we discuss the topic of "An Increase In Income After An Illinois Divorce" and its impact on both child support and maintenance. When a party’s income increases post-divorce, it may trigger modifications in financial obligations, such as child support and spousal maintenance, under the Illinois Marriage and Dissolution of Marriage Act (IMDMA). The episode explains how the courts evaluate income changes and the legal steps involved in modifying these financial obligations. Understanding how to address these changes is crucial for anyone going through post-divorce adjustments.
We also cover the legal procedures involved in verifying income after a divorce in Illinois. Cook County Rule 13.3.1(b) often requires the exchange of Financial Affidavits and supporting documents like tax returns and pay stubs to determine current incomes. This helps the court assess whether a significant increase in income constitutes a substantial change in circumstances, which is required to modify maintenance or child support. We explain how the court uses these affidavits to ensure that both parties remain compliant with their financial responsibilities post-divorce.
For those looking to modify maintenance, Illinois law, specifically 750 ILCS 5/510(a-5) and 750 ILCS 5/504, provides clear guidelines on what constitutes a substantial change in circumstances. The episode discusses the factors courts consider, such as the duration of maintenance and the incomes of both parties, as well as key legal cases like In re Marriage of Anderson and In re Marriage of Brunke, which shape how these modifications are handled. We emphasize that simply earning more does not always guarantee an increase in maintenance payments.
Finally, we explore how income increases can affect child support modifications, sometimes without needing a substantial change in circumstances. Illinois provides specific guidelines and tools like the Illinois Health and Family Services child support estimator can help determine if a modification is warranted. We also touch on how both maintenance and child support can be modified simultaneously under Illinois law. Tune in to learn more about your rights and responsibilities when income changes occur after a divorce.
Law Office of Russell D. Knight
1165 N Clark St #700, Chicago, IL 60610, United States
(773) 334-6311
https://www.google.com/maps?cid=13056420905624162796

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1218 episoder

Artwork
iconDel
 
Manage episode 444203576 series 3376163
Innhold levert av Viktoria Altman. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Viktoria Altman eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

From Law Office of Russell D. Knight – In this podcast episode, we discuss the topic of "An Increase In Income After An Illinois Divorce" and its impact on both child support and maintenance. When a party’s income increases post-divorce, it may trigger modifications in financial obligations, such as child support and spousal maintenance, under the Illinois Marriage and Dissolution of Marriage Act (IMDMA). The episode explains how the courts evaluate income changes and the legal steps involved in modifying these financial obligations. Understanding how to address these changes is crucial for anyone going through post-divorce adjustments.
We also cover the legal procedures involved in verifying income after a divorce in Illinois. Cook County Rule 13.3.1(b) often requires the exchange of Financial Affidavits and supporting documents like tax returns and pay stubs to determine current incomes. This helps the court assess whether a significant increase in income constitutes a substantial change in circumstances, which is required to modify maintenance or child support. We explain how the court uses these affidavits to ensure that both parties remain compliant with their financial responsibilities post-divorce.
For those looking to modify maintenance, Illinois law, specifically 750 ILCS 5/510(a-5) and 750 ILCS 5/504, provides clear guidelines on what constitutes a substantial change in circumstances. The episode discusses the factors courts consider, such as the duration of maintenance and the incomes of both parties, as well as key legal cases like In re Marriage of Anderson and In re Marriage of Brunke, which shape how these modifications are handled. We emphasize that simply earning more does not always guarantee an increase in maintenance payments.
Finally, we explore how income increases can affect child support modifications, sometimes without needing a substantial change in circumstances. Illinois provides specific guidelines and tools like the Illinois Health and Family Services child support estimator can help determine if a modification is warranted. We also touch on how both maintenance and child support can be modified simultaneously under Illinois law. Tune in to learn more about your rights and responsibilities when income changes occur after a divorce.
Law Office of Russell D. Knight
1165 N Clark St #700, Chicago, IL 60610, United States
(773) 334-6311
https://www.google.com/maps?cid=13056420905624162796

  continue reading

1218 episoder

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