People who work hard and take professional risks are often rewarded with commensurately high incomes. While this can be a major personal boon, when it comes to divorce, having a significant income or high net worth can create complications. One of the most complicated areas of divorce for high-net-worth individuals and families is that of alimony (known technically as “spousal maintenance” in Illinois). Cases involving alimony for separated high-net-worth couples can be complex and difficult to predict, leading to frustration for both spouses. Understanding the law in this regard is essential for setting realistic expectations and negotiating for fair alimony payments. 

Alimony and High Net Worth Divorce

High net worth divorces are generally regarded as those involving over one million dollars in liquid assets, but as long as a couple makes a combined income of less than $500,000, the length and amount of alimony is calculated according to a formula. The formula uses the length of the marriage to determine the length of payments. To determine the amount of payments, the formula subtracts 25 percent of the net income of the spouse who earns less from 33.3 percent of the net income of the spouse who earns more. 

However, in cases where a couple’s combined income exceeds $500,000, couples or judges can deviate from the standard formula. In a perfect world, spouses would always be able to come together and negotiate a total financial separation package that includes agreements about property division, alimony, child support, and other smaller details like insurance coverage. But this is not always possible and when a couple cannot reach a financial settlement on their own and the court intervenes, it can be difficult to anticipate the amount and duration of alimony a judge will order. They will look at several facts before reaching a decision. These include: 

Research suggests that few life events are as disruptive as divorce, especially when it happens unexpectedly. However, being prepared for divorce - anticipating its beginning and understanding what you can do to help yourself through the process - can make a major difference in terms of how much stress you feel. If you are considering divorce or suspect your spouse may be getting ready to file for divorce, here are five steps you can take to minimize the negative impacts of a divorce on your life. 

Understand Your Financial Situation

Many couples have an implicit or explicit arrangement in which one spouse manages the family’s financial affairs. If you are not the spouse who takes care of the money, do everything you can to learn about the specifics of your family’s financial situation. Find out where your bank accounts are located and what the balances are, how much money you owe on your mortgage, car payments, and other loans, and how much you have saved for retirement. Gathering documentation that proves these things is important as well. 

Consider Where You Will Live

Do you already have a sense of whether you or your spouse will stay in the marital home? If you are going to be the one moving out, where will you go - and how will you afford to stay there? If you may need to spend some time with a family member or friend, try to have a plan for how long your stay will be, how you can help out while you are there, and what you will need to do to get into your own place. 

The time before a marriage is often one of great excitement and anticipation. It can also be a time of enormous stress - especially if one fiancé announces unexpectedly to the other that his or her parents want a prenuptial agreement to be signed before the marriage can take place. The partner who is given the option to either sign a prenuptial agreement or cancel the wedding may feel a wide range of emotions - surprise, confusion, and uncertainty, just to name a few.

 If you find yourself in this situation, it is important to take a deep breath and understand exactly what a prenuptial agreement can and cannot do. A prenuptial agreement may end up working to your advantage if it is written correctly. 

You Cannot Be Forced into Signing a Prenup

No matter what your fiancé or his or her parents say, a prenuptial agreement signed under coercion or duress is not valid under Illinois law. So, if you are presented with a prenup a day before your wedding takes place, and you sign it because you are terrified of the implications of canceling the wedding, the prenup could be invalidated on the basis of duress, if you get divorced. 

In 2016, Illinois updated the Illinois Marriage and Dissolution of Marriage Act (IMDMA) to better meet the needs of unmarried and divorced couples. The current law altered the language to represent modern parenting styles more accurately. Instead of one parent being the primary custodian and the other parent merely having visitation rights, the law now describes parenting duties as being shared between the parents. Parents who are getting divorced should be sure to understand the new law, as it differs somewhat from laws in surrounding states, both in terminology and function. 

The allocation of parental responsibilities is an important part of the IMDMA. Generally speaking, the term parental responsibilities is used to describe important decision-making capabilities, which are divided into four general categories. Visitation is now called parenting time. Parenting time refers to the time that either parent spends caring for and supervising the child. 

Parental Responsibilities in Illinois

Parental responsibilities refer to a parent’s authority to make child-related decisions. The four primary areas of significant decision-making described in Illinois law are: 

Victims of sexual harassment are often torn about who to tell and where to go for help. Depending on the details of the harassment, you may not know who in your company you should go to or you may even feel uncomfortable speaking to the person you need to speak to. Furthermore, you may not want the person harassing you to get in serious criminal trouble, even if you are intent on getting the harassment to stop. If any of this sounds familiar to you, speak with an Illinois sexual harassment attorney right away. 

Do I Go to the Police About Workplace Sexual Harassment? 

As with most legal questions, the answer is, “It depends.” Certain types of sexual harassment rise to the level of criminal assault and require the intervention of the authorities. Rape and other forms of physical and sexual assault, blackmail, trafficking, and other serious forms of sexual crimes certainly warrant police attention and may result in criminal charges being brought against the accused. 

However, sexual harassment at work is generally far more subtle than outright physical or verbal threats; for example, some of the most common types of sexual harassment include: