This document discusses spousal support, also known as maintenance. It provides definitions and guidelines under Colorado state law. Key points include:
- Maintenance can be awarded permanently or temporarily, depending on factors like length of marriage.
- The court considers both parties' income, needs, assets, employment status, and standard of living during the marriage in determining a maintenance amount.
- Temporary pre-decree maintenance is calculated using a rebuttable formula for combined incomes under $75,000.
- Maintenance is tax deductible for the paying spouse and taxable income for the recipient if certain IRS conditions are met.
What Happens in a Divorce With a Prenup vs. Without a Prenup?Cory Wall
Know more about what happens in a divorce with a prenup vs. without a prenup
https://walllegalsolutions.com/what-happens-in-a-divorce-with-a-prenup-vs-without-a-prenup/
Divorce is an expensive proposition. From filing to court fees to hiring an experienced lawyer and beyond, here's the breakdown of what it can cost to end a marriage.
progressive law firm providing high-quality legal services in Family law Criminal law Court Appearances Mining law Native Title law, Native Title Heritage Law
Progressive law firm providing high quality legal services in Family law Criminal law Court Appearances Mining law Native Title law, Native Title Heritage Law.
progressive law firm providing high quality legal services in Family law Criminal law Court Appearances Mining law Native Title law, Native Title Heritage Law
progressive law firm providing high quality legal services in Family law Criminal law Court
Appearances Mining law Native Title law, Native Title Heritage Law
Alimony/Spousal Support Attorney in Salt Lake City, UtahCory Wall
At Wall Legal Solutions, our alimony lawyers are committed to providing professional legal services that make a positive difference. Contact us for a free consultation today!
https://walllegalsolutions.com/practiceareas/alimony-spousal-support-attorney-in-salt-lake-city-utah.html
Tax Consquences in Divorce in Washington StatePhilip Tsai
Filing status and divorce, tax implications and divorce, division of assets, gains from residence, child support and alimony, dependency exemption, and deductible costs in divorce.
A court can modify, or even terminate, alimony; however, there must be a significant change in circumstances that has occurred since the original support order. Learn more about spousal support in Florida in this presentation.
What Happens in a Divorce With a Prenup vs. Without a Prenup?Cory Wall
Know more about what happens in a divorce with a prenup vs. without a prenup
https://walllegalsolutions.com/what-happens-in-a-divorce-with-a-prenup-vs-without-a-prenup/
Divorce is an expensive proposition. From filing to court fees to hiring an experienced lawyer and beyond, here's the breakdown of what it can cost to end a marriage.
progressive law firm providing high-quality legal services in Family law Criminal law Court Appearances Mining law Native Title law, Native Title Heritage Law
Progressive law firm providing high quality legal services in Family law Criminal law Court Appearances Mining law Native Title law, Native Title Heritage Law.
progressive law firm providing high quality legal services in Family law Criminal law Court Appearances Mining law Native Title law, Native Title Heritage Law
progressive law firm providing high quality legal services in Family law Criminal law Court
Appearances Mining law Native Title law, Native Title Heritage Law
Alimony/Spousal Support Attorney in Salt Lake City, UtahCory Wall
At Wall Legal Solutions, our alimony lawyers are committed to providing professional legal services that make a positive difference. Contact us for a free consultation today!
https://walllegalsolutions.com/practiceareas/alimony-spousal-support-attorney-in-salt-lake-city-utah.html
Tax Consquences in Divorce in Washington StatePhilip Tsai
Filing status and divorce, tax implications and divorce, division of assets, gains from residence, child support and alimony, dependency exemption, and deductible costs in divorce.
A court can modify, or even terminate, alimony; however, there must be a significant change in circumstances that has occurred since the original support order. Learn more about spousal support in Florida in this presentation.
The Department of Education discharges tens of thousands of federal student loans due to the borrower disability. Learn what is need to successfully prove disability to earn a discharge of a federal student loan. Michigan attorney Thomas Golden also explains how a student loan discharge might financially harm certain disabled people.
Your Final Divorce May Turn Out to be at the Starting LineKingston Law Group
If parties are flexible, reasonable, and empathetic towards each other, these could just be bumps in the road. If bitterness and anger remain in the relationship, the parties could throw procedural and legal brick walls in front of each other in perpetuity.
The correct legal status of a relationship is important, it has serious consequences. For a de facto it can determine if someone has a financial entitlement or if they don’t.
On the 10th anniversary of the introduction of the law for de facto property settlements, we ask the question “What is a de facto relationship?”.
The reality is that it is not straight forward and most people don’t know if they are in a de facto relationship. It is important for an Accountant to be informed in this area, so your clients are “alert but not alarmed”.
After separating, a couple must wait a minimum of 12 months before making an Application for Divorce. The separation period does not need to be continuous – a couple can reconcile for 3 months before restarting the clock on the separation period.
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...Massimo Talia
This guide aims to provide information on how lawyers will be able to use the opportunities provided by AI tools and how such tools could help the business processes of small firms. Its objective is to provide lawyers with some background to understand what they can and cannot realistically expect from these products. This guide aims to give a reference point for small law practices in the EU
against which they can evaluate those classes of AI applications that are probably the most relevant for them.
Lifting the Corporate Veil. Power Point Presentationseri bangash
"Lifting the Corporate Veil" is a legal concept that refers to the judicial act of disregarding the separate legal personality of a corporation or limited liability company (LLC). Normally, a corporation is considered a legal entity separate from its shareholders or members, meaning that the personal assets of shareholders or members are protected from the liabilities of the corporation. However, there are certain situations where courts may decide to "pierce" or "lift" the corporate veil, holding shareholders or members personally liable for the debts or actions of the corporation.
Here are some common scenarios in which courts might lift the corporate veil:
Fraud or Illegality: If shareholders or members use the corporate structure to perpetrate fraud, evade legal obligations, or engage in illegal activities, courts may disregard the corporate entity and hold those individuals personally liable.
Undercapitalization: If a corporation is formed with insufficient capital to conduct its intended business and meet its foreseeable liabilities, and this lack of capitalization results in harm to creditors or other parties, courts may lift the corporate veil to hold shareholders or members liable.
Failure to Observe Corporate Formalities: Corporations and LLCs are required to observe certain formalities, such as holding regular meetings, maintaining separate financial records, and avoiding commingling of personal and corporate assets. If these formalities are not observed and the corporate structure is used as a mere façade, courts may disregard the corporate entity.
Alter Ego: If there is such a unity of interest and ownership between the corporation and its shareholders or members that the separate personalities of the corporation and the individuals no longer exist, courts may treat the corporation as the alter ego of its owners and hold them personally liable.
Group Enterprises: In some cases, where multiple corporations are closely related or form part of a single economic unit, courts may pierce the corporate veil to achieve equity, particularly if one corporation's actions harm creditors or other stakeholders and the corporate structure is being used to shield culpable parties from liability.
How to Obtain Permanent Residency in the NetherlandsBridgeWest.eu
You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
Matthew Professional CV experienced Government LiaisonMattGardner52
As an experienced Government Liaison, I have demonstrated expertise in Corporate Governance. My skill set includes senior-level management in Contract Management, Legal Support, and Diplomatic Relations. I have also gained proficiency as a Corporate Liaison, utilizing my strong background in accounting, finance, and legal, with a Bachelor's degree (B.A.) from California State University. My Administrative Skills further strengthen my ability to contribute to the growth and success of any organization.
In 2020, the Ministry of Home Affairs established a committee led by Prof. (Dr.) Ranbir Singh, former Vice Chancellor of National Law University (NLU), Delhi. This committee was tasked with reviewing the three codes of criminal law. The primary objective of the committee was to propose comprehensive reforms to the country’s criminal laws in a manner that is both principled and effective.
The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
2. DISCLAIMER
2
No legal advice is given in this website. Nothing said in this
website shall in anyway constitutes legal advice. Nothing on this or
associated pages, documents, comments, answers, emails, or other
communications should be taken as legal advice for any individual
case or situation. All information presented is for informative
purposes only and should not be considered legal advice in any
way. Additionally, no attorney-client relationship is established by
viewing any information on this website. If you believe you are
here to get legal advice in any way, you should leave now. THIS
WEBSITE IS FOR GENERAL INFORMATION PURPOSES
ONLY.
No Warranties or Guaranties are made regarding accuracy of the
information provided.
3. Maintenance
3
State law
A payment, other than equitable distribution or child support,
to a former spouse
Ends upon death of former spouse
May ends upon remarriage and/or cohabitation depending on
agreement
Federal tax law
Different requirements than under state law
Important because of tax consequences
4. Colorado Maintenance Law
(C.R.S. 14-110-114)
4
Permanent/Long Term May Be Awarded ONLY IF:
Lacks sufficient property to provide for reasonable needs, AND
Is unable to support self through appropriate employment, OR
Is custodian of child whose condition or circumstances prevent
employment outside of home
5. Definitions
5
“Reasonable Needs” – depends on particular facts and
circumstances of parties marriage.
“Appropriate Employment”- depends on parties economic
circumstances and reasonable expectations established during
the marriage.
6. Statutory Maintenance Factors
6
1. Actual need and ability to pay (financial resources avail)
2. Length of the marriage
3. Age, physical and emotional health of parties
4. Standard of living during the marriage
5. Earning capacities, educational levels, vocational skills and
employability
6. Ability of paying spouse to meet own needs while paying
maintenance
7. Parental responsibilities for children
8. Time and expense to acquire education and training to enable
party to find appropriate employment.
7. Other Maintenance Factors
7
9. Tax Effects
10. Present Circumstances are controlling rather than historical
11. However historical may be consider to impute income
12. Duration of Maintenance Award
1. Continuing or for definite period of time
2. Incremental reductions ok if basis
3. Expectation of retirement benefits ok to reduce
4. Improper speculation about future NOT allowed
10. Any other factors which the court may deem relevant
8. The Practical Problems In
Determining Maintenance
8
No formula approach like child support or “rules of thumb”
Except “temporary maintenance”
“Standards” have little place in the law of domestic relations
The law grants judges great discretion – rarely overturned
on appeal
9. Maintenance Issues
9
Permanent vs. Temporary
Rehabilitative v. Reimbursement
Retirement
Cohabitation / Remarriage
Changes Circumstances
Taxability
10. Pre-Decred Maintenance
(C.R.S. 14-110-114(2))
10
Combined Annual Income < $75,000/yr
Rebuttable Presumption for pre-decree support
Calculation
(40% of higher earners gross income –
50% of lower earners gross income)
“Courts shall deviate if “inequitable or unjust”
TEMPORARY MAINTENANCE ONLY
11. “Income” defined
11
From every source (Same as Child Support)
Salaries, wages, tips (all), commissions, indep contractor
payments, bonuses, dividends, severance, pensions, royalties,
rents, interest, trust income, annuities, capital gains, moneys
from self employment for personal use, social security, workers
comp, unemployment, disability, PI case, monetary gifts,
prizes, ptsp distributions, reimbursed expenses from work if
significant and reduce personal living expenses, alimony
received, overtime if required by employer
Self Employment – Income after “ordinary business expenses”
– must be real business expense
Lots of Rules and tests here – but no clear line to follow
Subtract maintenance or support paid to prior marriage or
children if through court order.
12. Not Income
12
Child Support Received
Means tested assistance – SSI, food stamps, Colorado Work
Programs
Income from additional jobs from 40+ week employment
14. Permanent Maintenance
14
Awarded in long term marriages
Long term marriages can be as short as 10 years
Typically 10-15 year marriages in the gray zone
Very fact dependent
Permanent alimony can end/be modified
Substantial change of circumstances, e.g., retirement, disability
of either party
15. Cohabitation
15
Depends on terms of agreement
Remarriage ends permanent and limited duration
alimony
Cohabitation not sufficient by itself to reduce
Depends on facts
How close to marriage
How much support provided
16. Tax Considerations
16
Alimony is deductible from income for the paying spouse and taxable to
receiving spouse
Requirements are
Written divorce or separation instrument
Spouses cannot live together after divorce
Cash (or cash equivalents)
Marriage relationship
Must file separate tax returns
Must terminate at death
Must not be child support
May be deemed child support if terminates or reduces as a result of a child
contingency
e.g., reduction of alimony on child’s 18th
birthday
Review by tax professional may be warranted
17. Alimony Recapture–IRC 71(f)
17
Intended to prevent front loading of maintenance OR
conversion of property settlement payments into deductible
alimony.
If Alimony decreases or terminates during first three
calendar years, some recapture (loss of deduction) – talk to
accountant.