Anderson & Boback Logo

The Importance of Representation with an MSA

Published
Categorized as Divorce, Divorce Litigation

We are often contacted for assistance with post-decree matters stemming from Marital Settlement Agreements with awards for maintenance. It is typical for divorces to result in the entry of Judgments for Dissolution of Marriage with incorporated Marital Settlement Agreements. Parties enter into Marital Settlement Agreements for a number of reasons. Some parties may wish to end the marriage on amicable terms, so they decide to enter into an agreement that they believe is fair and just. Other parties may enter into agreements to avoid the cost of litigation and to speed up the divorce process. Although time and money are factors to be considered when discussing settlement options during the dissolution process, it is highly recommended that both parties have adequate representation prior to signing a Martial Settlement Agreement, especially when an agreement contains an award for maintenance. Unfortunately, many people enter into agreements without considering the long-term effects it will have on their finances, as they believe they can later modify the terms. Pursuant to 750 ILCS 5/510, of the Illinois Marriage and Dissolution of Marriage Act, maintenance may only be modified upon a showing of a substantial change in circumstances. The Court determines whether there has been a substantial change in circumstances since the entry of the Judgment for Dissolution of Marriage, by considering several factors, which can be found in 750 ILCS 5/504 and 750 ILCS 5/510. One example of a potential change in circumstances could be a change in the employment status of either party. However, that change must have been in good faith. A Court will only modify a maintenance award if they determine a modification would be just and equitable based on the change in circumstances. It is unlikely for a Court to enter a Judgment, with an incorporated Marital Settlement Agreement, that the Court finds to be unconscionable. Therefore, it is very important that you seek representation prior to entering into any agreement, as a later modification is not guaranteed.

Was this information helpful?

You May Also Like

A cohabitation agreement is an agreement or contract entered into between two people living together in the same household who are in a romantic relationship but not married. With more millennial couples choosing to live together, whether planning to marry…

When going through a divorce it's not uncommon to think "I never want to get married again!" But later, you may fall in love again and be ready to venture into marriage again. If you are planning to remarry, you…

While doing an initial consultation with an individual looking to get divorced, I have found it is common to get questions about whether it is possible for a divorcing couple to work together with an attorney to do a collaborative…

No one likes to pay spousal maintenance (formally called "alimony" or referred to as spousal support). When you are employed and your ex refuses to work, there is a greater reluctance to want to pay maintenance. In Chicago divorces, there…

Finding the best child custody lawyer in Chicago may seem like a daunting and intimidating process if you have never been involved in a legal dispute. This is especially true when it comes to a custody case involving your children…

Parenting disputes, and accusations of being a bad or unfit parent, are extremely common in the world of divorce, juvenile, and family law. Many parents enter the courtroom with a laundry list of accusations of poor parenting against the other…

RECENT POST
Categories
Archives
Anderson & Boback small logo

Download our Divorce Planning Guide today!

Get the information you need to prepare for divorce with our free resource Guide to Planning for Your Divorce.

What our clients are saying

Why Choose
ANDERSON & BOBACK?

Schedule a Discreet Consultation Today!

    Firm Overview
    ANDERSON & BOBACK?

    Anderson & Boback is a highly-respected, experienced Chicago family law firm, skilled in negotiation and litigation. When divorce and other family law issues make your life chaotic and uncertain, you want your case resolved as quickly and fairly as possible. Call Now 312-715-0870