Experienced High Asset Alimony Lawyers Addressing Complex Support in Wheaton, IL
Alimony is sometimes ordered in a divorce to account for one spouse's financial hardship after the dissolution of marriage. In addition to the standard of living during the marriage, the court must consider the reasonable needs of the dependent spouse. Our attorneys have experience with complex spousal support, and we can represent either the spouse seeking alimony or the spouse contesting it.
For knowledgeable high-asset divorce representation, contact the Wheaton high-asset alimony attorneys at Musielak & Rosinski LLC. We have the financial background and tough litigation skills that you need when dealing with complex spousal support issues.
Balancing the Needs of Each Spouse in a Request for High-Asset Alimony
In Illinois, there is a statutory formula for determining spousal support, but it often does not apply in high-asset or high-net-worth situations. This lack of rigid guidelines gives the judge who decides your divorce considerable flexibility and discretion in making his or her spousal maintenance ruling. Our lawyers can present your case for spousal maintenance based on your standard of living, the income earned by each party, and relevant tax issues.
It is important to remember that marital fault is not considered by the court when determining spousal maintenance. Some factors the judge will consider include:
- The income and assets of each person
- Each person's ability to earn income
- The standard of living during the marriage
- The length of the marriage
- The age of each person
- The tax consequences of property division for each person
- The monetary contributions of each person
In high-asset divorces, it is crucial to present and define the reasonable needs of the dependent spouse. Often, this must be balanced against the standard of living established during the marriage. As in other divorces, alimony may be granted as temporary spousal support, rehabilitative support, or long-term maintenance. The length of the spousal support award depends on many factors, including the length of the marriage, the health of the parties, the disparity of income, and the sacrifices one spouse may have made during the marriage.
If, after your divorce, you still need assistance enforcing a high-asset spousal support order or defending against an enforcement proceeding, we can assist you. We also represent people seeking or contesting modifications to high-asset support awards.
Modifying High-Income Alimony
Alimony orders in high-income cases are not always permanent. Either spouse can request an alteration to the order if circumstances change significantly. A significant increase or decrease in income, job loss, retirement, or remarriage of the receiving spouse can all serve as valid reasons for revisiting the original support order. Courts generally require proof that the change is substantial and was not anticipated at the time the original order was entered.
Modifying alimony in a high-income case can be more involved than in a standard divorce, since the original order often reflects complex income sources such as bonuses, business earnings, or investment returns. A spouse seeking a modification should be prepared to present updated financial documentation supporting the request.
Is Alimony Always Necessary in a High-Asset Divorce?
Alimony is not automatic, even in divorces involving significant assets. In some high-asset cases, a fair division of property may reduce or eliminate the need for ongoing support.
Spousal support decisions are not based solely on the size of the marital estate. A spouse with substantial independent assets or earning potential may receive little or no alimony, while a spouse who sacrificed career opportunities during the marriage may have a stronger claim to support.
Contact Our Wheaton High Net Worth Spousal Support Attorneys
Wherever you stand in an alimony case, your financial concerns should not go unaddressed. To set up a free initial consultation with Musielak & Rosinski LLC, call 630-344-6525 or contact our Wheaton, IL high net worth spousal support lawyers today. We have offices in Wheaton and Oswego.