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Alimony Archives

One may pursue financial maintenance from an ex

A flood of questions and concerns can dominate a Boulder County resident's mind when they decide to file for divorce. For example, they may wonder how their kids will take the news of their ending marriage or if they will be able to manage on their own. They may have concerns about their soon-to-be ex-spouse causing problems for them during the divorce process.

Length of alimony commitment can vary

When two people divorce, they can begin their lives as single individuals in different financial circumstances. Particularly when one of the partners to the ended marriage worked outside of the home and the other elected not to earn an income to support the family at home can the differences in their incoming wealth be exacerbated. In Colorado, a disparity in income between two formerly married people may result in an award of alimony to the lesser-earning person.

Alimony can be essential to moving forward after divorce

In Colorado, people take a lot of pride in becoming self-made men and women. However, rarely does an individual meet his or her path to success completely on their own. Often the support of a loving spouse is necessary to allow that individual to make the personal sacrifices they need in order to achieve their goals.

Can I get alimony from my ex if I have a job?

There are a number of factors that a Colorado court will look at when deciding if a party should be awarded alimony after a divorce. Primarily, the court will assess if the party requesting support can take care of themselves without the other spouse's income and if the spouse who would be responsible for the alimony payments can afford to make them while taking care of themselves as well.

Spousal support may be modified through Colorado courts

Either through agreement or a court-issued order, a divorcing Longmont resident may find themselves subject to an alimony obligation. Alimony, also known as spousal support, is the payment of financial support from one party to a divorce to the other, after the parties have legally terminated their relationship.

Alimony documents and records should be kept

There are tax consequences for both paying alimony and receiving alimony. Payers of alimony usually get to deduct the payments on their tax returns. Recipients of alimony, on the other hand, generally must include the payments in their total gross income. As with nearly all tax matters, alimony payers and recipients will want to keep written records to show to tax authorities if the authorities start asking questions. This blog post will go into a bit of detail as to what documents should be retained by alimony recipients and payers in Boulder County.

Factors Colorado courts consider in awarding alimony

Colorado law recognizes that the economic lives of spouses are often closely intertwined in marriage. In many cases, decisions made by one spouse imply complementary decisions made by the other, and spouses sometimes choose to forgo educational and earning opportunities for the good of the relationship. Since it can be hard to provide a specific accounting of the money value of each decision, Colorado law allows for spousal support to be awarded in some cases where one spouse can pay the support and the other spouse needs it.

What are the tax consequences of alimony payments?

When folks in Longmont think about the obligations that a divorced person might have, alimony will likely be among the first things thought of. The truth is that alimony orders are less common today than they were in the past. Still, if spouses were married for a long time before a divorce, or if one of the spouses left the workforce to care for children or otherwise take care of the household, there is a decent chance that the other spouse will be ordered to pay alimony.