Spousal Support (maintenance formerly known as ALIMONY)
As of 2015, there is finally an actual mathematical formula for calculating spousal support which is as follows:
30% of the gross yearly income higher wage earner
LESS-
20% of the gross yearly income of the lower wage earner
EQUALS=
yearly maintenance to be paid to the lower wage earner.
| For example: | |||
|---|---|---|---|
| If the husband earned | $80,000.00 gross per year | $80,000 x 30% = | $24,000.00 |
| If the wife earned | $25,000.00 gross per year | $25,000 x 20% = | $5,000.00 |
| The difference is | $19,000.00 |
The husband would be required to pay the wife $19,000 per year ($1583.33 per month) as maintenance. Other factors can alter the amount of maintenance, lower or higher.
The duration of the maintenance payments are based on the length of the marriage. If the marriage was over 20 years, the court can order permanent maintenance. For marriages less than 20 years, there is also a formula. For example for a marriage of 10 years or more, the maintenance would be payable for six years.
Don’t forget —maintenance is taxable to the receiver and deductible to the payor.
The citation for the statute is 750 ILCS 5/504