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Illinois new child support law 2017

New Illinois Child Support Law Taking Effect in 2017 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. One of the factors is NOT the amount of parenting time that each parent has with the child. However, there are a few Illinois Appellate Court Opinions that say that parenting time may be considered. In the fall of 2016, the Illinois Legislature passed and the Governor signed a new statute that completely changes the way child support is calculated in Illinois. The new law takes effect July 1, 2017. The law eliminates the former percentages and creates what is called the income shared approach. “To calculate child support based upon the parent’s combined adjusted net income estimated to have been allocated to the child if the parents and children were living in an i...
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Illinois New Child Support Laws 2017

New Illinois Child Support Law Taking Effect in 2017 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. One of the factors is NOT the amount of parenting time that each parent has with the child. However, there are a few Illinois Appellate Court Opinions that say that parenting time may be considered. In the fall of 2016, the Illinois Legislature passed and the Governor signed a new statute that completely changes the way child support is calculated in Illinois. The new law takes effect July 1, 2017. The law eliminates the former percentages and creates what is called the income shared approach. “To calculate child support based upon the parent’s combined adjusted net income estimated to have been allocated to the child if the parents and children were living in an ...
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2017 New Illinois Child Support Law

New Illinois Child Support Law Taking Effect in 2017 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. One of the factors is NOT the amount of parenting time that each parent has with the child. However, there are a few Illinois Appellate Court Opinions that say that parenting time may be considered. In the fall of 2016, the Illinois Legislature passed and the Governor signed a new statute that completely changes the way child support is calculated in Illinois. The new law takes effect July 1, 2017. The law eliminates the former percentages and creates what is called the income shared approach. “To calculate child support based upon the parent’s combined adjusted net income estimated to have been allocated to the child if the parents and children were living in an i...
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Illinois Spousal Support

In Illinois now, we have a provision where typically these spousal support payments do terminate when the paying spouse dies, but it can be secured now and by court order. It can be secured with a life insurance policy. That’s really an important provision because, historically, if some tragedy were to occur to the party who’s paying, it would leave the recipient totally unprotected. We’re seeing much more frequently now with this new provision that maintenance awards are protected with a life insurance requirement. Absent that statute, there wasn’t historically an insurable interest in the party who’s paying and it was difficult to obtain life insurance to secure the obligation. But this new provision has really helped us in terms of protecting the recipient. On the disability side, that’s a little bit trickier. If it can be negotiated so there’s some kind of disability coverage and that can be incorporated into a divorce decree, that can many times make sense for the party who’s o...
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