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Can joint custody affect child support?

When parents share legal and physical custody of their children after a divorce or separation, this is generally referred to as joint custody. As more Illinois families are composed of two working parents and their children, joint custody has become an increasingly popular solution. According to a joint custody plan, both parents should share the financial responsibility for raising their children as well as the physical effort of doing so. This may make parents wonder about the impact that joint custody could have on a child support order.

Making wise financial decisions after a divorce

Ex-spouses in Illinois know firsthand the effect that divorce can have on one's finances. In many instances, ending a marriage means splitting financial assets in half, trying to support multiple households at the same time and covering attorney fees. Research shows that households that have never gone through a divorce have about 30 percent more wealth than those that have. It's important to note that many post-divorce challenges are unique to ex-wives.

Changes coming to spousal support under tax bill

Due to provisions of the tax law overhaul that was signed in December 2017, many Illinois couples in unhappy marriages might find a new reason to call it quits sooner rather than later. An attempt to avoid a provision in the new law that will soon make alimony payments more costly could produce additional filings. This part of the tax bill will be effective for divorces finalized in 2019 and thereafter.

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