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Illinois Alimony

Illinois alimony is subject to interpretation and the whims of the courts. However, there are creative ways to bend the system in your favor because alimony in Illinois is subjective. Illinois Alimony can be difficult. It's one of the most contentious parts of a divorce. Most men don't mind financially supporting their wives when they're married, but men get outraged by having to financially support an ex-wife. Why do the Illinois courts grant alimony? Generally to correct what the court perceives as a financial imbalance. Will you be subject to alimony? If you make more income than her and have been married for several years, chances are good you'll be on the hook for alimony. The level of alimony you'll pay and for how long is dependent on the approach and strategy you use. There are always methods you can use to reduce or even eliminate alimony. Many men think alimony is just a monthly payment, when the "one-time" lump sum payment also is a option. Assets such as savings, real estate, 401K plans, and pensions also fall under the umbrella of alimony. It's important to know the subjects of alimony and division of assets are often linked, so sometimes it's better to "pay her off" rather than pay her monthly for years.

There are two types of alimony:

Which is method is best? That depends on your situation. The point is to know your options and pursue the path that's best for you because every situation is unique. Don't make the mistake of not being aware of the available options, so get the facts and create a winning strategy. With a good strategy, it's possible to get your alimony close to zero! Monthly alimony payments are tax deductible to you if you pay them them and are considered taxable income to the person who receives the money. There may be some tax advantages to using alimony, even if a judge wouldn't ordinarily award it. You should get creative and negotiate alimony as a part of your divorce settlement. Unlike child support, alimony is not regulated by law and is purely up to the parties to negotiate a deal. Failure to reach deal will result in a judge deciding alimony for you. If this happens, your opportunity to negotiate a fair deal with your ex is gone, so you're now at the mercy of a judge. Make sure you have a plan to prevent this from happening to you. To discover how to effectively deal with Illinois alimony and how to lower or even eliminate it, we suggest you take a look at Matt OíConnellís best selling guide and its in depth look at Alimony:

If you want techniques to lower or even eliminate your alimony, Matt O'Connell's divorce guide is your ultimate resource.

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