In this article, you will discover:
- How spousal maintenance is calculated
- Examples of a typical situation
First, we have to ensure that both parties don’t earn more than $500,000. Then you calculate 33 and 1/3rd percent of the payor’s net and your annual income minus 25% of the payee’s net annual income. Then you add that to the payee’s income, and that new amount cannot exceed 40% of the combined net income of the parties’ combined income. All of this is calculated in family law software and on an Excel spreadsheet.
So, we take 33.333% of their income, which comes to $10,000. Payee is $10,000 times 25%, which becomes $2500. So you subtract those two, it becomes $7,499.999 or $7500, but remember, the award cannot push the payee’s income over 40% of the combined income. So, the combined income times 40% is $16,000. When we add the $500 to the payee’s $10,000, we get $17,500. So, that’s $1500 over that 40%. We have to take that $1500 from that $7500 to get $6000. So, that’s what the maintenance will be in one year, and then you divide that up by 12, and you get the amount per month. So, $6000 divided by 12 is $500 per month
So, that’s how the amount is calculated. It’s 33% of the payor’s income plus 25% of the payee’s income then added to the payee’s total income to make sure that amount is not more than 40% combined income, and the new number becomes what the spousal maintenance is after subtracting the difference between the 40% and the new amount.
For more information on Determining The Amount of Spousal Maintenance, a free initial consultation is your next best step. Get the information and legal answers you seek by calling (312) 779-0098 today.
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