How are bonuses handled in divorce?

How are bonuses handled in divorce?

A bonus earned during the marriage is marital property even if it is not received until after the marriage is over, so long as an enforceable (if contingent) legal right to receive the bonus existed on the date of separation. Of course, a bonus earned entirely after the date of classification is separate property.

Are bonuses included in spousal support?

Generally, the court will consider any regularly occurring bonuses as income, subject to the child support guidelines just as wage earnings are. Similarly, for spousal support or property division purposes, regularly occurring bonuses, especially when they are substantial, may be included in the calculation.

What percentage of your pay goes to alimony?

Under the formula, alimony is set at 30 percent of the higher-earning spouse’s income, minus 20 percent of the lower-earning spouse’s, as long as the recipient doesn’t end up with more than 40 percent of the couple’s combined income.

What is the percentage of alimony in Illinois?

33%