Alimony is an outdated term used to describe the payments given for maintenance or support of an ex-spouse. Sometimes, alimony is paid through a lump sum payment, while other times, it is given as an ongoing payment. Alimony or spousal support is paid by the supporting spouse and given to the dependent spouse.
How Long Does Alimony Last?
In 2013, Colorado signed an alimony law into place, referred to as “Spousal Maintenance.” This reform created a standardized guideline that the courts rely on. Each maintenance schedule includes how long the payments will last unless the guideline is for permanent alimony. In these cases, the support paid to the lesser-earning spouse continues until the payor or recipient dies. It will also be canceled if the recipient gets remarried.
How Is Alimony Calculated in Colorado?
In most situations, the alimony payments are figured at 40% of the spouse’s monthly adjusted gross income who makes more, while subtracting 50% of the spouse’s monthly adjusted gross income that makes less.
How Much Will I Pay for Alimony?
Let’s assume that you earn $6,000 a month, and your ex-spouse only earns $2,000 a month. Your alimony payment would be $1,400 a month. We figured this based on 40-percent of $6,000 ($2,400) minus half of $2,000 ($1,000). These payments would be required, as set out by the guidelines.
Alimony Does Not Apply If
A Couples Income Exceeds $240,000
If you and your ex-spouse’s income exceeds $240,000, you will not follow the same guidelines.
The Marriage Was Less Than Three Years
If your marriage lasted less than three years, you might not be liable for alimony. However, if you were married for more than twenty years, you could be liable for permanent alimony that is paid until one of you dies or the recipient gets remarried.
What Alimony Does Not Include:
- Child Support
- Community Property Income
- Temporary Support Order Payments
Tip: if you have paid alimony, and your divorce was issued in 2018 or earlier, you can claim it as a deduction on your taxes. 2019 issued divorces do not qualify for this tax deduction.
To determine what you will pay for alimony, you can use our alimony calculator to get a better idea.
I am seeking a…..
When the time comes to get a divorce, you want a lawyer that gets results. Thomas Ramunda Jr. has more than 25 years of experience, guaranteeing that you always receive the best advice possible. Whether you need help with alimony payments, child support agreements, or a divorce, we are ready to guide you. Talk to Thomas Ramunda about the ways we can help you.
At our South Denver Law at the Parker/Main Office location, you can receive a consultation. We are located at 19590 E. Mainstreet, Suite 103, Parker, CO 80138. Call 303.840.2700 to schedule your meeting today.
If you prefer, you can visit our Denver, Colorado location. We are located at the Denver Tech Center, 4610 Ulster Street, Suite 150, Denver, Colorado 80237. Call 303.840.2700 to schedule your consultation today.