Since January 1, 2014, Colorado alimony (or spousal maintenance, as we call it) has been based on a formula. The starting amount of alimony after divorce is decided based on the duration of a marriage as well as the combined gross income of both spouses. This standard method applies to couples making $240,000 annually or less combined.
For couples who meet the income requirements, maintenance is determined to be 40 percent of the higher income earner’s gross yearly income, minus 50 percent of the lower income earner’s gross yearly income. So, for example, if the higher income earner earns $100,000 annually (~$8,333 per month), and the lower income earner makes $60,000 ($5,000 per month), the formula would work as follows:
- ~$3333 (40 percent of $8333) – $2,500 (50 percent of $5,000) = $833 per month in spousal support.
There is another formula that will provide the duration of alimony payments. This formula scales dependent on the duration of the marriage, ranging from three years to 20 years. A spouse married for three years will pay alimony for 31 percent of the duration of the marriage. A spouse married for 20 years pays alimony for 50 percent of the duration of the marriage.
Contact a Colorado Maintenance Lawyer
However, the formula is simply a guideline ”“ many judges do not use it, instead opting to decide alimony based on the individual facts of a case. Often, the formula is used as a baseline calculation from which a judge will then apply his or her own discretion based on marital property division and the needs of each party. Contact our team today to get more accurate numbers.
Our Denver divorce attorneys will do our part to ensure that your finances are taken care of in divorce.