This document discusses spousal support, also known as maintenance, under Colorado law. It provides definitions of key terms, outlines the statutory formula and factors courts must consider to determine a maintenance award. These include the financial resources and earning capacities of both parties, length of marriage, health, standard of living, parental responsibilities and more. It also addresses issues like the duration of awards, tax treatment, and how cohabitation or remarriage may impact maintenance. The goal is to provide guidelines for parties while granting judges discretion in deciding individual cases.
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.
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.
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/
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
Updating your status from single to married may bring about some unanticipated changes, including changes relating to your taxes. While wedding planners don’t typically use an IRS checklist, here are a few things to keep in mind when filing your first tax return as a married couple.
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/
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
Updating your status from single to married may bring about some unanticipated changes, including changes relating to your taxes. While wedding planners don’t typically use an IRS checklist, here are a few things to keep in mind when filing your first tax return as a married couple.
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.
No matter how carefully one plans for retirement, unexpected events can occur that change the situation. One such challenge is divorce. If you were counting on your spouse's Social Security benefits to provide some of the retirement income required, you need to know how this will affect your planning.
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.
Read about the various tax resolution options available for individual and businesses. One or many of the options are usable depending on the tax issues involved.
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.
Breaking Up is Hard To Do - Planning issues when untying the knot - presented by lawyer Jane Shanks, VP Assante Wealth Management to the Estate Planning Council of Abbotsford on September 17, 2014.
Similar to Spousal support-maintenance-p pshow 2015 (20)
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
Car Accident Injury Do I Have a Case....Knowyourright
Every year, thousands of Minnesotans are injured in car accidents. These injuries can be severe – even life-changing. Under Minnesota law, you can pursue compensation through a personal injury lawsuit.
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordinary And Special Businesses And Ordinary And Special Resolutions with Companies (Postal Ballot) Regulations, 2018
Defending Weapons Offence Charges: Role of Mississauga Criminal Defence LawyersHarpreetSaini48
Discover how Mississauga criminal defence lawyers defend clients facing weapon offence charges with expert legal guidance and courtroom representation.
To know more visit: https://www.saini-law.com/
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.
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.
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. PURPOSE
The purpose of the new legislation is to provide advisory
guidelines for all parties, to promote settlements by
providing such guidelines, and to, at a a minimum, provide a
starting point for everyone in the case.
5. Colorado Maintenance Law
(C.R.S. 14-110-114)
5
Spousal Support 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
6. Definitions
6
“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.
7. Maintenance Formula
(C.R.S. 14-110-114(2))
7
Calculation
(40% of higher earners gross income –
50% of lower earners gross income)
However, the recipient cannot receive more than
40% of the combined income of the parties when
considering their income + the maintenance
amount.
Courts can then adjust he amount after considering
the factors below.
8. Statutory Maintenance Factors
Page 1
8
1. Financial resources of both parties including any actual or
potential income from separate or marital property, or any other
source, and the ability of each spouse to meet needs
independently;
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;
Parental responsibilities for children;
2. Time and expense to acquire education and training to enable
party to find appropriate employment;
9. Maintenance Factors –
Page 2
9
8. Tax Effects;
9. Present Circumstances are controlling rather than historical
10. However historical may be consider to impute income
11. 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
10. The Practical Problems In
Determining Maintenance
10
No strict formula approach like child support.
“Established lifestyle during the marriage” is rarely
considered as both parties lifestyle usually change after
separation.
The law grants judges great discretion – rarely overturned
on appeal
12. “Income” defined
12
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.
13. Not Income
13
Child Support Received
Means tested assistance – SSI, food stamps, Colorado Work
Programs
Income from additional jobs from 40+ week employment
14. Duration of Award
14
For marriage of at least 3 years and up to 12 years there is a
table based upon of % of months of the marriage which
determines the duration. After 12 years, the award is
generally for 50% of the total months of marriage, subject to
modification due to change in circumstances including
retirement by the paying 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.