Presenting the Parentage Act of 2015 Effective January 1, 2016

On October 1, 2015, Margaret A. Bennett was a speaker at the James R. Thompson Center Auditorium in Chicago, Illinois, regarding the new Parentage Act of 2015 which will be in effect beginning January 1, 2016.

You can see the video of Ms. Bennett’s presentation and read the summary or the full Parentage Act here: Navigating the New IMDMA & Parentage Act

Dramatic Changes with New Spousal Maintenance Guidelines: House Bill 1452

Beginning January 1, 2015, a new spousal maintenance statute, Public Act 98-961, will become effective for divorcing couples with a combined gross income of $250,000 or less. The new spousal maintenance legislation contains guidelines for the amount and duration of spousal maintenance. These guidelines are based on each party’s gross income and the length of the marriage.

Prior to the court implementing the spousal maintenance guidelines, the court must first consider if a maintenance award is appropriate by considering various factors listed in the Illinois Marriage and Dissolution of Marriage Act (“IMDMA”), including but not limited to, “the income and property of each party, then needs of each party, the present and future earning capacity of each party…the standard of living established during the marriage, the duration of the marriage, the age and the physical and emotional condition of both parties…”. Determining the Amount of Maintenance under the New Guidelines

Once the court has decided that a party is entitled to spousal maintenance, the court will then apply the new spousal maintenance guidelines outlined in Pub. Act 98-961 which set forth a simple formula to determine the appropriate amount of maintenance. The amount of spousal maintenance is determined by “taking 30% of the payor’s gross income minus 20% of the payee’s gross income”. The total maintenance award shall not exceed 40% of the parties’ combined gross yearly incomes. Determining the Duration of Maintenance under the New Guidelines

When determining the duration of spousal maintenance under the new guidelines, the length of the marriage is paramount, with sizeable increases in the duration of maintenance occurring for marriages lasting more than 5, 10, 15, or 20 years. The new statute determines the duration of spousal maintenance by multiplying the length of the marriage as follows:

Length of Marriage              Multiplier

0 – 5 years                               .20

5 – 10 years                             .40

10 – 15 years                           .60

15 – 20 years                           .80

For marriages lasting 20 years or more, the new guidelines in Pub. Act 98-961 recommend “permanent maintenance, or maintenance equal to the duration of the marriage”.

As stated in the Illinois Bar Journal Vol. 103, No. 1, entitled The New Illinois Spousal Maintenance Law: Retroactive or Prospective, it is important to note that judges are not required to use this formula in determining the amount of a maintenance award; however, if the judge does not use the formula, he or she “must make a finding explaining” his or her refusal.

A major concern for family law attorneys is whether or not Pub. Act 98-961 will be applied retroactively. While Pub. Act 98-961 applies to all maintenance awards entered after January 1, 2015, it is unclear what effect it will have on maintenance that was awarded prior to its enactment, specifically its effect on maintenance modification orders entered with the court after January 1, 2015.

The new maintenance guidelines promise to significantly impact the way spousal maintenance awards are negotiated and litigated. Keep in mind that Illinois laws are constantly changing. For example, House Bill 1452 will be reintroduced to the House of Representatives in January 2015. House Bill 1452 is already considered a major revision to the current IMDMA with its significant changes to the 38-year-old law. Contact Bennett Law Firm, LLC today to set up a consultation and see how House Bill 1452 can have an effect on your divorce.  

Forbes Article: Legal Solutions to Complex Matrimonial Disputes

As Seen in Forbes Magazine, Chicago Women Business Leaders Edition, June 10, 2013 Legal Solutions to Complex Matrimonial Disputes

When an affluent couple was going through a divorce, the wife was in the dark regarding the value of the marital estate. Her husband, a savvy business executive, had always managed their finances. The woman turned to the Oak Brook, Illinois based Bennett Law Firm for help.

“The husband was deceptive about how much money he had,” says Margaret Bennett, founding partner. “Our investigation uncovered $225,000 in hidden assets. The wife had no knowledge of what properties she and her husband owned.”

Divorce is never easy, particularly when children, large sums of money, personal property or family-owned businesses are at stake. The right legal representation is critical to understanding complex financial circumstances and resolving difficult cases efficiently. One of the leading boutique matrimonial law firms in the Chicagoland area, the Bennett Law Firm leaves no stone unturned when helping clients put the past behind them and move on with their lives.

“We understand business valuation, tax law, complicated marital estates and other financial issues,” Bennett says.

While vigorously representing clients’ interests, the Bennett Law Firm is also sensitive to the needs of children who are affected by their parents’ divorce. Bennett is a frequent lecturer on the subject of child support, and serves on the state’s Child Support Advisory Committee and the Illinois State Bar Association Family Law Section Council. She is helping to draft child-focused legislation that attempts to reduce parental conflict for families in transition. Bennett’s passion is to help legislators improve Illinois laws pertaining to families and children in crisis.

Bennett has been named by Chicago Magazine as one of the Top 50 Women Attorneys and Top 100 Attorneys in Illinois. Experienced and respected, she is both a skilled negotiator and a tough-as-nails litigator, always seeking the best possible outcome in one of the most difficult challenges anyone can face. Specially trained in the collaborative law process in family law matters, Bennett helps clients avoid litigation when possible.

“One of the hardest things anyone can go through is when their spouse leaves them with an uncertain financial future,” she says. “I like being able to help clients walk out of court with a smile on their face, knowing they are going to have a secure financial future.”