Is child support in Illinois based on gross or net income?
Under present law, child support is based on the net income of the child support payer. It is 20% for one child, 28% for two, 32% for three, and 40% for four. Net income is defined in 750 ILCS 5/505 as gross income minus certain specified deductions.
What is a true up in divorce?
A true up is merely a term of art that would better be described as a reconciliation like they do in other kinds of accounting (but the word reconciliation word has other connotations in a divorce)
Do they take child support out of bonus checks?
Bonuses and Lump Sum Reporting Bonus and lump sum payments made to employees are considered income and may be garnished to collect past-due child support.
When should you ask for alimony?
A judge will assess if one spouse has a demonstrated financial need and if the other spouse has the ability to pay alimony. Alimony is generally awarded in cases where the spouses have very unequal earning power and have been married a long time.
Can you avoid spousal support?
Best Tips to Avoiding Alimony Individuals will usually seek a prenuptial agreement when one spouse makes or has significantly more money than the other as a means to protect their assets during divorce. Other reasons for having a prenuptial agreement entered is to avoid having to pay alimony to the other spouse.
How does a judge determine alimony?
Below are some of the factors a judge will examine: If alimony can make it possible for the receiving party to maintain a lifestyle that is close to what the couple had during the marriage. The length of the marriage. The age and health of each spouse. The earning capacity of each spouse.