When you have relied on your partner to make sure you have the money you need to survive in your marriage, it’s clear that you may also have to rely on him or her in the future as you try to get a new job and move on after your divorce. In Colorado, spousal maintenance, which used to be referred to as alimony, is the money that the higher-earning spouse may have to pay the lower-earning spouse in a relationship. This support may be paid in the short- or long-term following a divorce.
This can be an important issue to you, especially if you have no income of your own. This is essentially a safety net; instead of being left without any way to care for yourself, your ex-spouse will have to continue to pay you until the court sees fit to stop those payments. To determine if you or your ex will need to pay this support, an investigation will need to take place. This investigation looks at the financial status of the individuals involved and determines how much, if any, support should be paid.
Spousal support can be a substantial amount of money. For instance, the equation in Colorado states that the support should be based on 40 percent of the higher earner’s monthly gross income or 50 percent of the lower earner’s income. It should also consider the contributions the lower earner made through the marriage. For instance, if the lower-earning party put the other person through school or supported him or her while learning a new trade, that information could result in more spousal support being paid.
When you’re ready to learn more about spousal support, you can visit our website. With the right plan, you can request the right amount of support, so you don’t feel cheated during your divorce.