Alimony is known as spousal maintenance in Colorado. It is the amount of money that one partner is ordered to pay in the event of divorce, legal separation or annulment of marriage. Alimony is paid by the partner who earns more than the other and is meant to be fair and equitable to both parties.
“(2) AT THE TIME OF PERMANENT ORDERS IN DISSOLUTION OF MARRIAGE, LEGAL SEPARATION, OR DECLARATION OF INVALIDITY PROCEEDINGS, AND UPON THE REQUEST OF EITHER PARTY, THE COURT MAY ORDER THE PAYMENT OF MAINTENANCE FROM ONE SPOUSE TO THE OTHER PURSUANT TO THE PROVISIONS OF THIS SECTION. AN AWARD OF MAINTENANCE SHALL BE IN AN AMOUNT AND FOR A TERM THAT IS FAIR AND EQUITABLE TO BOTH PARTIES AND SHALL BE MADE WITHOUT REGARD TO MARITAL MISCONDUCT.” Colorado Revised Statutes – Section 1. 14-10-114 Spousal Maintenance – guidelines, (c)(2)
Income Used to Calculate Alimony
The amount of money that should be paid as alimony is determined by the court according to guidelines, considerations and calculation. Alimony is calculated taking into account the total gross incomes of both individuals. The gross incomes are usually collective of all sources of incomes including returns on investments, interests and financial assets such as property or any other such asset. However, there are certain deductions from the gross incomes such as any preexisting spousal maintenance or any child support that one may be paying from an earlier marriage.
Alimony Calculations Colorado
On May 10th, 2013 the Governor signed a new guidelines statute pertaining to spousal maintenance – alimony in Colorado. The amount of alimony and term of maintenance is based upon duration of marriage and the combined gross incomes of the parties.
Alimony is typically a temporary arrangement. The spouse earning more pays spousal maintenance till such time when the recipient gets a job or starts doing better.
Alimony is a permanent agreement only when the recipient cannot take care of himself or herself, whether do to health problems, disability or for other reasons.
A couple may also decide not to get into any sort of alimony calculation and neither may demand anything from the other partner, which would need the judge’s approval to be considered legally acceptable.
The content of this page is for general informational purposes only, and should not be considered advice in your case. If you’re getting a divorce, you need a Denver divorce attorney who knows the intricacies of divorce in Colorado and the details of the law.
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Related Alimony Articles:
The state of Colorado uses a formula to decide what kind and how much temporary alimony should be issued. Typically, the lower earner is issued 40 percent of the higher earner’s income that is spread out onto monthly payments. Naturally, any other spousal support payments will be figured into the payments. This would include things such as child support. Read More >>
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