In 2014, the State of Colorado changed its views on alimony, followed by a revision on how it’s calculated. This makes sense, seeing that modern couples have a different take on marriage, its dissolution, and other family matters.
The Burnham Law Firm, P.C. agrees that divorce is a complex matter, which is why you need legal help when dealing with it. As such, you should consider hiring one of the experienced divorce lawyers in Boulder even before you take the first step of filing for marriage dissolution. Of course, knowing even just the basics of alimony can already help you relay your concerns to your legal counsel.
Who makes alimony payment-related decisions?
As you go through a divorce, the local court will look over your case and make the decisions regarding the division of marital property, as well as child custody and support. In addition, the judge will determine which spouse will shoulder the responsibility of paying alimony, or “spousal maintenance”, as what Colorado calls it.
Note though, that you and your spouse can agree on these matters before taking the divorce case to court. In the event that you can’t come to a harmonious agreement, a judge will decide for both of you.
The new payment calculation
Traditionally, the way the Colorado courts handled alimony payments resulted in inconsistencies for spousal maintenance. As the number of couples filing for divorce increased, so did these issues. This prompted the state to make the necessary changes. In 2014, it passed a new legislation standardizing the calculation of alimony.
The judge will take 40% of monthly income of the spouse with the higher income, and then deduct 50% of the other spouse’s income. Of course, the judge also considers other assets, which can slightly change the final number. The party deemed responsible to make the alimony payments will do so on a monthly basis, although the court will still implement a timeframe for how long a spouse should pay alimony.