What Financial Support Can I Receive as a Stay-at-Home Parent After an Illinois Divorce?

 Posted on June 18, 2019 in Divorce

These days, it is more common for both parents in a household to hold a career while raising children together. However, having one parent stay at home to raise children is still a popular option for many families. This choice may be the personal preference of the homemaker, or a couple may find this option to be more financially feasible. Either way, for a stay-at-home parent, getting a divorce can be a difficult and nerve-wracking situation.

If you are a stay-at-home parent, you are likely the primary caregiver for your children. Although you may have had a career or job at one time, being a full-time stay-at-home parent has taken you out of the workplace. It may be necessary to go back to work after a divorce to support yourself and your children, but several post-divorce financial solutions may assist you with getting back on your feet financially.

Post-Divorce Financial Support

• Spousal Maintenance: Also referred to as alimony, spousal maintenance is the amount of money a higher-earning spouse may be obligated to pay the lesser-earning spouse after a divorce. A stay-at-home parent does not automatically get alimony, but a judge will make that decision based on factors such as the length of the marriage, the earning potential of each spouse, the spouses' accustomed standards of living, and the health and ages of both parties. Guidelines defined in Illinois law will be used to calculate how much spousal maintenance will be paid, and for how long.
• Division of Property: Any marital property is subject to be divided between spouses, regardless of who purchased this property or who earned the income used to make these purchases. In Illinois, property is divided using a system called equitable division of assets. While this does not mean assets are divided equally, they are divided fairly. For example, if the family home is marital property, it would most likely be given to the primary caregiver of the children to prevent further disruption to their lives. This is often the case if the caregiver is a stay-at-home parent with little money to his or her own name.
• Child Support: Both parents are required to provide financial support for their children, and the amount of child support is based on what parents would have spent to care for their children if they had remained married. In Illinois, child support is calculated using the income earned by both parents, and each parent's amount of parenting time may also be a factor in these calculations. A stay-at-home parent will likely receive significant support from their ex-spouse to ensure that children's ongoing needs are met.

Contact a Palatine Stay-at-Home Parent Divorce Lawyer

As a stay-at-home parent, a divorce may cause a financial burden on top of the emotional stress of splitting from your partner. Although it is best to budget and create a plan to support yourself after your divorce, you also have the right to receive financial assistance from your ex-spouse. If you are concerned about making ends meet after your divorce, contact an experienced Rolling Meadows divorce attorney to discuss your options and determine a strategy for success in your divorce case. Call the skilled legal team at A. Traub & Associates at 630-426-0196 to set up an initial consultation today.

Sources:

http://www.ilga.gov/legislation/ilcs/documents/075000050k504.htm