Having an attorney that understands the complicated details of the law is crucial for any couple getting a divorce in Colorado. Colorado now has presumptive guidelines for maintenance, also known as spousal support or alimony, that could have you writing your X a check for years. It’s imperative you contact an attorney before agreeing to pay long-term maintenance – or to waive it.
If you afforded your spouse a lifestyle or experienced a lifestyle that you will not be able to maintain after divorce, you need to consider maintenance and what those amounts look like in light of the division of property and assets in your divorce.
When a two-income household becomes two homes and one income or there are significant differences between the gross incomes of you and your spouse, hiring Teddi Ann Barry, PC to assist with understanding, calculating and negotiating maintenance is crucial.
There needs to be an agreement or Temporary Orders to determine who will pay what bills and what amounts after the separation and before the divorce is final.
Do not get stranded in the “in-between” paying too much or receiving too little. You need to determine if joint payment of marital obligations is just that during the separation or if those amounts will be a deduction or credit towards any maintenance award.
Before the divorce is final,
You need to understand tax consequences of support v. maintenance;
You need to know what is reasonable to pay or receive based on your financial resources and the division of property.
You need to know that if you do need further education, time to become employed or on the other end if you need to pay for your spouse to get on his or her feet how long and how much is necessary to pay or receive.
You need to hire Teddi Ann Barry, PC to help you.
Maintenance can be a monthly cash payment directly, or instead be the obligation of continuing to pay the mortgage and the household bills during the separation or after the divorce.
Depending on your financial situation, it may be both an obligation to pay the monthly financial obligations and a stipend or additional monthly amount to your spouse for everyday necessities.
The costs of maintaining two separate households is another reason you must not continue to fight and litigate and instead move swiftly to a resolution and final agreements in your divorce in Colorado.
In January 2014 Colorado added presumptive guidelines for maintenance into the Uniform Dissolution of Marriage Act (UDMA).
These guidelines suggest that spousal support should be calculated by using 40% of the higher wage earner’s monthly gross income and subtracting 50% of the lesser wage earner’s monthly gross income to determine the monthly amount to be paid to the lesser income earner for often a period of half the life of the marriage or less.
Once the amount is determined, we often work through negotiations for a property and asset division that will include the amounts to be paid for support as a greater award of the assets or less debt depending on your financial situation.
The guidelines are intended to be a base for the determination of maintenance. In many cases, parties argue that current incomes do not reflect amounts earned during the marriage, or that the allocation of assets and debts to not justify such as award. In some situations, the higher income earner assumes a significant amount of the marital debt in lieu of paying maintenance directly to the X.
Whether temporary maintenance or maintenance determined for purposes of permanent orders, there is still a Colorado Court discretion and many factors to consider and negotiate for maintenance.
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Teddi Ann Barry PC Features
When you decide to Divorce in Colorado, call Teddi Ann Barry, PC. Our mission is to resolve your family legal matters, quickly, efficiently, and in the most cost-effective manner possible. We have experience in all areas of family law, including high conflict litigation when necessary and permitted by Colorado Law
Teddi Ann Barry PC Family Law attorneys have offices throughout the state of Colorado, specifically including Denver, Cherry Creek, Vail, Avon, Steamboat. Our Home office is located in Denver at 899 Logan Street, Suite 203 Denver, CO 80203. Our phone number at this location is 720-722-0776. Our Vail location is at 30 W. Benchmark Road, Suite 214, Avon, CO 81620 970-949-0776.
Teddi Ann Barry PC focuses exclusively on Family law matters including, Divorce, Legal Separation, Mediation and Settlement Conferences, Common Law Marriage, Maintenance, Child Support, Parental Responsibility, Parenting time, Child Custody, Modifications, Paternity, Step-Parent Adoptions, Collaborative Law, Non-traditional Families and Pre and Post Nuptial agreements.
Our mission is to resolve your family legal matters, quickly, efficiently and in the most cost effective manner possible. We have experience in all areas of family law, including high conflict litigation when necessary and permitted by Colorado law.
Please call us for a private complimentary consultation call us in Denver, Colorado at 720-722-0776 or our Vail-Avon office and surrounding mountain communities at 970-949-0776.
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