Broomfield Alimony Attorney
Financial issues may become challenging during any divorce, especially when the spouses have substantial assets. During divorce proceedings, a judge may need to make a determination about whether to award one spouse alimony, which is typically called “maintenance” under Colorado statute. At Plog & Stein, we recognize the importance of our clients of being able to meet their financial needs, both during the divorce case and after it’s done. If you are going through a legal dispute regarding spousal support, the experienced Broomfield alimony attorneys at Plog & Stein can aggressively protect your interests.
Understanding Maintenance Awards in Broomfield County
Maintenance is intended to help a spouse who lacks enough property and resources to provide for their reasonable needs. It is only awarded if a spouse asks for it. This request is typically made in the initial divorce filing and can be litigated at both a temporary or final orders hearing. If it is not specifically requested, the court will generally make sure that the parties understand that once it is waived, the right to receive maintenance may not be invoked after the divorce decree enters.
Maintenance is one of the major issues arising in a divorce case and an award of maintenance can be run for many years after the initial case is done. As such, the stakes are high and the financial ramifications can be significant to both parties as they try to move with their lives. Under Colorado law, a temporary award of maintenance may be ordered while a divorce case is pending. The goal of temporary spousal support is to protect the interests of spouses who may not presently have a way to take care of themselves financially during the initial months of separation. An alimony attorney in Broomfield can help you assert your rights as needed.
Beginning in 2014, Colorado law introduced a maintenance guideline generally applicable for couples who earn under $360,000 on an annual basis. Specifically, the guideline formula is 40 percent of the higher earner’s gross monthly income minus 50 percent of the lower earner’s gross monthly income, with potential adjustments depending on the circumstances. Though courts are not mandated to follow the statutory guidelines, statute suggests that a court must specifically state a reason for not doing so. The statutory formula changed further in 2018 to reflect changes in IRS Code related to the tax implications of alimony and the fact that for new divorce orders entered after 2018, the alimony paid would no longer be taxable to the recipient or deductible to the payer. As a result, the formula amount to be paid has been reduced. At Plog & Stein, P.C. our Denver alimony attorneys work to keep on top of the various changes in law that arise over the years.
In situations in which family income is in excess of $360,000 per year, several factors must be taken into account, such as each spouse’s wages, the length of the marriage, the couple’s standard of living, whether one spouse was responsible for being a homemaker, the property awarded to each spouse, and each spouse’s earning potential. These factors are also applicable in other cases, though less likely to be given as much weight.
Colorado law also provides that the duration of alimony will be affected by the length of the marriage. For marriages of 20 years or less, it may be capped at half of the length of the marriage and could be less, whereas for marriages of over 20 years, the duration might be at least half of the length of the marriage and may be longer.
Maintenance payments, like child support payments, are not set in stone. To the contrary, these payments may be modified if an ex-spouse can show that there has been a substantial and continuing change in circumstances that renders the prior maintenance order unfair. When this happens, the court will examine the recipient’s income and the payer’s current financial situations. Maintenance can also be locked in in a contractual sense, both as to amount and duration, though only by written agreement of the parties.
Consult a Knowledgeable Alimony Lawyer in Broomfield
Broomfield is ranked as the ninth-fastest growing city in the U.S. Conveniently located within a short drive from Denver and Boulder, it is home to a number of technology companies. Families in the area can enjoy visiting attractions like Outdoor Adventures Colorado or shopping at the Flatiron Crossing mall. Unfortunately, however, sometimes spouses decide to part ways. If you are going through a divorce, it is important to seek the help of a skilled Broomfield alimony lawyer who can craft a strong strategy on your behalf. At Plog & Stein, P.C., we are here to help you understand your options and assert your rights. We proudly represent people throughout Colorado. To discuss your case in more detail with a divorce attorney in Denver, call us at 303-781-0322 or contact us online.