Van Schwab 01-23-19

Van spoke of the alimony changes for the new year. Effective Jan 2, 2019, the expenses are now longer deductible. and are based on years of marriage instead of having no limit on time.

Typically 1/3 of the paying spouse’s income minus 1/4 of the receiving spouse’s income is paid but many variable factors can affect that. College education is limited to the cost of sending the student to the University of Illinois. If sent to another more expensive school, the receiving spouse is responsible for the difference.

Van also does prenuptial agreements which are more common in second marriages or in marriages of older couples which have already acquired property and/or debts.

Van is leaving the group after many years but is remaining in practice and we wish him well. Keep in your thoughts of you know of anyone needing his services.

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