Questions for Michael Roe about Illinois Child Support? Here’s a quick summary of the application of overnight calculations that affect actual child support.
Recent changes to Illinois divorce law have reshaped how courts handle child support calculations when parents share parenting time almost equally. These updates reflect the state’s ongoing efforts to align financial responsibility with actual time spent with children, a critical issue in modern family law.
Illinois courts determine child support under the Income Shares Model codified at 750 ILCS 5/505. This model allocates support based on each parent’s income and the proportion of time the child spends with them. The 2023 amendments to the Illinois Marriage and Dissolution of Marriage Act clarified that when each parent has the child for at least 146 overnights per year, the “shared parenting” formula must be applied, adjusting both parents’ obligations proportionally.
Illinois divorce law continues to evolve, particularly when it comes to spousal maintenance. Talk to Michael Roe at www.illinois-attorney.net if you have questions about spousal maintenance in Illinois.
Valuing a Small or Medium-Sized Business in an Illinois Divorce
When a couple divorces in Illinois and one or both spouses own a business, determining the value of that business is an essential step in dividing marital property fairly. Illinois law treats closely held businesses as marital property to the extent they were created or grew during the marriage. The court must therefore determine the business’s fair market value as of or near the date of dissolution.
1. Common Valuation Methods in Illinois Divorces
It’s the new year, and a client with a new case just filed emails me to understand what the next steps are in his/her case. Even though the case may feel brand new to a new litigant, financial disclosure comes up quickly. Illinois divorces typically require a Financial Affidavit, which details income, expenses, assets, and debts.
Encourage readers to start gathering:
Ilyssa Panitz freely admits she gave up the financial reins when she got married.
“I did not keep an eye on the money, even though I got married later in life,” says Panitz, 54, who lives in Westchester County, N.Y. “My former spouse worked in accounting and I was taking care of the kids, and I figured ‘This is great’.”
Then, after 13 years of marriage, says Panitz, who hosts the nationally syndicated radio show, “The Divorce Hour with Illyssa Panitz,” she told her husband she wanted to split up. And she realized her ignorance about their money situation “was my biggest mistake and biggest downfall. I had the rug pulled out from under me.”
The question of child support seems to be a basic question, but one that sometimes causes confusion. It used to be some years ago that the noncustodial parent was obligated to pay child support to the parent with the “primary custody of the child or children.” Illinois has largely done away with old concepts of child custody and child support, and now centers its laws on allocating more equally the parenting time of the children, and setting support such that both parents’ incomes are factored in.
Child support is now calculated using an “income shares” model, which considers both parents’ incomes and the number of children. The key factors in determining child support include:
Illinois Divorce Lawyer Blog