6 Factors Colorado Courts Consider for Spousal Support Awards
In complex divorce negotiations that involve finances, spousal maintenance may be a big consideration. While some couples can agree on money matters during the divorce process, this isn’t always the case. When there is a lot of money on the table, it can seem like one spouse is reaching for more than their fair share or that one person is trying to withhold a fair amount from the other in retribution or out of greed.
Sometimes, one or more parties to the divorce may simply feel nervous about making any lasting commitments or decisions during an emotional or stressful time, especially if those decisions impact large amounts of assets.
If you’re caught in a dispute over financial matters during a divorce or believe that you may be headed for one, working with a family law attorney experienced in high-asset divorces can be helpful.
Are Spousal Support, Spousal Maintenance, and Alimony the Same Thing?
Spousal maintenance is what the Colorado courts call support paid to a former spouse that is not specifically for the purpose of caring for children. This is sometimes called spousal support or alimony in other locations or by the general public.
Support that is paid to another parent for the purpose of providing financial care for children is child support. It is considered separate from spousal maintenance, though the same types of considerations may also come into play with child support.
What Might the Court Consider When Making Spousal Maintenance Decision?
Whether you are in negotiations or working through court processes for an initial spousal maintenance order or you have a reason to change or end spousal support orders, understanding what factors the courts might consider is important. Knowing what to expect can help you plan ahead and create a strategy to best protect your interests.
1. The Income of Both Parties
The courts consider how much income both people make currently and may also consider what income might be like in the near future. For example, if one of the people in the marriage has been put through medical school and is about to end residency and take a job that pays a lot more, this might be a contributing factor in court decisions.
Generally, a spouse who makes substantially less than the other person is the one who receives any spousal maintenance, but it’s important to remember that every case has unique factors and that income is only one of those.
2. Other Financial Resources of Both Parties
Courts will also consider financial resources other than traditional income, including real property, investments, and other assets. Usually, courts attempt to determine whether one spouse has the resources they need to support themselves independently from the other or whether maintenance is required.
3. Existing Financial Needs and Obligations
Because courts take a holistic approach to spousal maintenance decisions, they typically consider debts and other obligations as well as each person’s financial needs. That includes specific bills, such as mortgage or utility payments, as well as more unique obligations related to family or similar situations.
4. How Long You Were Married
The length of your marriage can also affect whether the court orders spousal maintenance and how much the payments are. If two people were married for 15 years, for example, and one person was the breadwinner the entire time, there may exist a much stronger case for spousal maintenance than a situation that involves a marriage of a few months.
5. Standards of Living Within the Marriage
The standard of living both parties experienced during the marriage is also a consideration. Courts generally aren’t looking to substantially elevate one person’s standard of living at the expense of the other. Spousal maintenance is more often aimed to provide for the status quo. There are exceptions to this, of course, and it’s important to discuss your case with an experienced attorney to help protect your assets from an inappropriate reach by an ex.
6. Age and Health of Both Parties
The age and overall health of both parties may also be relevant to a spousal support decision. For example, if one spouse has a chronic condition that makes them unable to work and independently support themselves, courts may consider this when they decide on a spousal maintenance order.
Work With a Family Law Attorney to Protect Your Interests
The above list is not meant to be exhaustive, as there are many factors that could come up regarding a spousal maintenance case. This is one reason it’s important to discuss your case with an experienced attorney as soon as possible. Your lawyer can provide guidance and help you create a strategy that protects your interests.
If you are involved in a high-asset divorce, consider working with an attorney who is adept at managing those types of cases. The challenges, processes, and considerations involved when one or both parties have a lot of assets or high earnings are different than they may be in other cases.
To find out more about how an experienced legal team can help with your case, reach out to Divorce In Colorado today. You can make an appointment for a complimentary consultation by calling 720-966-2412.
