Maintenance (Alimony) in High Net Worth Divorce

Family Law Blog

Maintenance (Alimony) in High Net Worth Divorce

November 21, 2019 | Divorce,Maintenance (Alimony),Wealth

Maintenance (Alimony) in High Net Worth Divorce

Maintenance is support one spouse pays to the other spouse after divorce.  Generally, courts are mandated to apply maintenance guidelines.   These guidelines follow a formula to determine the amount of maintenance and is intended to minimize litigation and provide uniformity of maintenance awards across the State of Illinois. The formula uses the income of the parties to determine the amount of maintenance.  

One big exception to the guideline mandate is that the guidelines do not apply in cases where the parties’ combined gross income exceeds $500,000.00 per year.  In those cases, judges have the discretion to award maintenance in any amount based upon a variety of factors.  Such factors include the income and property of each spouse, the needs of each spouse, the present and future earning capacity of each spouse, and the standard of living attained during  the marriage. 

In divorce cases involving wealth, the amount of maintenance one spouse receives can be a heavily litigated issue.  A recent extreme example was a McHenry County case where  the wife was seeking $400,000.00 per month in maintenance due to the wealth and lavish lifestyle of the parties.  (The judge ended up awarding $55,000.00 per month). 

Maintenance issues in divorce cases involving wealth are often complicated and fact intensive, especially when establishing the lifestyle attained during the marriage. Judges have wide discretion when awarding maintenance in cases involving wealth, and an experienced divorce attorney must tailor the facts and circumstances of the case to the specific relevant factors in order to obtain the best possible result.  The Botti Law Firm, P.C. has been serving DuPage and Cook County residents for nearly 50 years.  If you would like to speak to one of our experienced attorneys, please email us or call (630) 573-8585 to schedule a free consultation. 

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The Botti Law Firm, P.C., conveniently located in Oak Brook and Wheaton, is a full service law firm that offers comprehensive legal representation to individuals, families, businesses and professionals from the Chicago area, including Cook, Kane, DuPage, Lake, Will and Kendall Counties, to the rest of the United States. Our experienced trial attorneys are dedicated to obtaining successful results for our clients, in both state and federal courts.

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Contact the Botti Law Firm, P.C. to learn more about our different practice areas and how we can best address your legal concerns. Call (630) 573-8585 to speak with one of our attorneys.

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