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Naperville divorce and child support lawyer

Prenuptial agreements tend to get a bad reputation. A person may feel that a request to sign a prenup implies that one partner makes the majority of the money, and signing a prenuptial agreement may make it seem like a marriage is expected to end in divorce. However, a prenup does not necessarily have negative implications, and it can provide a number of benefits for a married couple. As people in the Millennial generation get older and begin to get married, they are agreeing to more prenups than previous generations. According to a study published by the American Academy of Matrimonial Lawyers, 62% of attorneys surveyed have seen an increase in requests for prenuptial agreements in recent years, and 51% of attorneys said that the numbers of Millennials requesting prenups has increased. Why is this the case? There are a number of possible reasons:

A Closing Wage Gap

According to the study, more prenups are now being requested by women. This may be due to the fact that women are climbing the career ladder in their fields and making more money, and they want to be able to protect their assets. In 2018, the pay gap between the genders closed to a 4.6% difference. As more women become equal earners or the primary breadwinners in their households, prenups may be used to ensure that they will have financial protections. A prenup may also be used to protect spouses’ rights to spousal maintenance (alimony). This can be a good safety net to ensure that if a divorce happens, spouses will be able to maintain financial security.

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Wheaton spousal maintenance lawyerEvery divorce is completely unique in various ways, but almost all divorces come with unanticipated complications. Whether these complications include child custody, asset division, or prenuptial agreements, divorce proceedings can be long, tiring, and emotionally trying. In the vast majority of divorce cases, finances become a top priority for both parties and their legal teams, and in many cases, the biggest financial issue becomes the financial dependency of one of the spouses. 

Spousal maintenance (also known as alimony or spousal support) ensures that a spouse who earns less than their ex-partner does not suffer from financial problems in the aftermath of the divorce. A spousal maintenance plan requires a higher-earning spouse to make payments to their ex-spouse for a certain period of time following the divorce, allowing them to meet their financial needs until they can become self-sufficient.

How Spousal Maintenance Is Determined 

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Several matters can create contention in divorce, but few can spark as much fear and emotion as spousal maintenance. On the one hand, you have a spouse that feels they are entitled to support. On the other, you have a spouse that feels they either should not or cannot pay the amount of support requested. Who is correct, and how does a judge decide? The following explains, and it provides details on how you can contest a request for spousal maintenance.

Spousal Maintenance Basics

Despite the common misconception, alimony is not automatically awarded in divorce. Instead, it is determined by a judge. In making that decision, the judge may weigh and consider a variety of factors, including:

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While not all divorces include a provision of alimony, those who are eligible may struggle with deciding whether or not they should pursue it. These feelings can arise for any number of reasons, including uncertainty over how the process works. If you are in the process of divorce and feeling conflicted about your right to alimony, the following information may be able to help.

When May Alimony Be Included in a Divorce?

Because each situation is unique, it is difficult to ascertain whether or not you may be eligible for alimony without first examining your case. However, there are some factors that may indicate that you could be eligible for spousal support in your divorce. These are the same factors that a judge might use to decide if a maintenance award would be appropriate, which may include:

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Divorce can take much longer than most people anticipate; however, high net worth divorces can take much longer. The division of assets and property and determination of spousal maintenance are extremely difficult to sort out, even in marriages among those with very little to divide. The more there is to divide, the higher the couple's income, the more complex the process becomes.

Case in point: a cancer treatment founder has been in the process of divorce for seven years now and is not even close to being completed, despite there being a valid prenuptial agreement. Therefore, if you are planning on a divorce and have a high value estate or expect there to be arguments over the division of property, assets, and determination of spousal maintenance, be prepared for a potentially lengthy process and know how to ensure you are effectively represented.

Know the Value of Estate, Income and Assets

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