Colorado Alimony Law is called spousal maintenance and it is the financial support that is legally mandated to be provided to a low income earning former spouse by a high income earning one.
Colorado Alimony Law
Numerous amendments have been made to Colorado’s alimony law in terms of spousal support guidelines
The spouse who earns the least is able to request alimony once the marriage has been dissolved or divorce proceedings have concluded. The court is able to consider the complete income of that spouse along with several other variables.
Determination of maintenance:
Colorado in line with its alimony law grants the court the power to give the requesting spouse provisional or permanent alimony.
Waiver of the maintenance:
Should the maintenance be awarded is provisional, it has a termination date. However, should it be permanent, the amount provided lasts till either party dies or the receiving spouse remarries.
How COMPLEX IS Colorado Alimony Law
Before January 2014, numerous people debated that Colorado’s alimony statute offered very little guidance, providing too much leeway for the judge’s discretion. This resulted in massive inconsistencies when it was being applied and the creation of bias.
The reviewed guidelines are non-binding and only apply to marriages that are at least 3 years and no more than 20 years. It also only applies to particular income requirements.
When is Alimony Appropriate Under Colorado Law?
Alimony is appropriate in certain conditions; however, there are a plethora of factors that have to be considered. First of all, for alimony to be considered, one of the spouses has to ask for it.
Once that happens, the court has to consider a number of factors which influence if alimony is not only appropriate but the amount that is allowed. The following are some of the factors considered are:
The gross income of both individuals in the divorce proceedings
The marital property that has been individually distributed to both parties
The financial muscle of each individual spouse
The financial needs of each party as it was when the marriage was valid (these needs have to be reasonable).
There really isn’t a sole factor which encompasses all cases and the court tends to handle every divorce case independently.
How is the Amount of Alimony Calculated?
The statutory law in Colorado has guidelines for deciding just how much alimony to be paid and that has helped to make it a more streamlined and objective process.
If a marriage lasted for a minimum of 3 years and both parties have a joint gross income worth $240000 or less then the court uses the following formula to calculate the amount of alimony:
The amount is usually 40% of the paying party’s adjusted gross income, with 50% of the lower party’s adjusted gross revenue deducted.
For example, if the party with the higher income has an adjusted gross revenue of $6,000 a month and the party with a lower income has an adjusted gross revenue of $3,000a month, the court is empowered to take 40% of the $6000 and subtract 50% of the $3000 to gives $900 the amount of spousal support to be awarded per month.
Duration of the Spousal Support in Colorado
The statutory guidelines determine just how long the Colorado Alimony Law should be awarded. There exists a comprehensive table which describes just how long the awarding period should be based on how many months the marriage lasted.
For instance, marriages that lasted more than the stipulated 20 years, the court can choose to award the maintenance for a time period equivalent to a minimum of 20 years or it could choose to award for an undetermined period of time.
Check here for more on Colorado Alimony Law