As you and your spouse navigate your day-to-day lives while going through a divorce, one of the first issues that may come up is how to work out your personal finances. Particularly if one party is unemployed or underemployed, you may be wondering how your divorce will affect your income and cash flow in both the short and long term. Whether you are in need of spousal support or defending against a claim, the Parker alimony attorneys at Plog & Stein, P.C. have extensive experience litigating alimony cases in the Douglas County District Court. We are able to answer your questions and guide you through all aspects of your divorce, including regarding the issue of alimony. Put our 60-plus years of combined legal experience to work for you in your family law case.How Maintenance (Alimony) is Awarded in Parker
Spousal support or alimony is termed “maintenance” under Colorado statute. Maintenance can be awarded temporarily, while a divorce case is pending, and after the decree of dissolution is entered. The monthly amount is generally derived following a specific mathematical formula in cases where the family’s combined adjusted gross income is less than $360,000 per year. Should you fall within these parameters, the likelihood of the C.R.S. 14-10-114 formula being applied is greater. For families exceeding the income threshold, the determination of maintenance can be more complex. Pursuant to statute, the court will review various factors tied into income, length of marriage, the marital and separate property set aside to each party, and overall circumstances that might be relevant to determining support. Even if your situation seems simple at first, talk with an experienced family law attorney well versed in Parker alimony to be sure that your financial rights are being protected.
In all cases, alimony orders will be arrived at through either settlement or at the final divorce hearing, in front of a judicial officer. Once orders are entered, the court generally retains jurisdiction regarding modifications (C.R.S. 14-10-122) and always retains jurisdiction to enforce the alimony orders. However, in some instances, the parties may agree to categorize their alimony as “contractual and non-modifiable” as to both amount and duration. In those instances, the court is divested of any jurisdiction to change the orders. At Plog & Stein, our seasoned alimony attorneys can help Parker residents determine what makes sense for them, given the relevant circumstances at hand. Each maintenance case also comes with tax implications in that I.R.S. Code allows the payor to declare any alimony paid as a deduction and requires the payee spouse to declare it as income.
Be aware that if you are thinking about waiving your right to alimony, that waiver is forever and you will not be able to change your mind and seek spousal support at a later date. Also, maintenance rights generally cease with the death of either party or remarriage of the recipient. The primary purpose of maintenance is to allow the spouse with the lesser earning capacity the resources and time to improve their financial situation. However, alimony is not mandatory. Whether you are seeking alimony or defending against a claim, we can help. Plog & Stein also represents clients on both sides of post-decree modification and termination of alimony motions.Trustworthy Alimony Lawyers Who Understand the Parker Community
When valuable resources, current and future earnings, or your financial well-being are on the line, divorce cases can become contentious. Whether your finances are simple or involve many assets, it is very important to work with a family law attorney who knows the ins and outs of all the statutory factors that may influence your case. The Parker alimony lawyers at Plog & Stein, P.C. will do a complete analysis of your financial situation and give you a solid understanding of what to expect in your alimony case. Call us at 303-781-0322 or contact us online to set up an appointment with a member of our team.