This new legislation is groundbreaking. It provides a clear formula for the calculation of maintenance, also known as “alimony”, for the first time.
Denver, Colorado (PRWEB) July 15, 2013
Governor Hickenlooper recently signed into law Colorado House Bill 13-1058, which codifies Colorado’s new guidelines for the determination of spousal maintenance. It will go into effect in January of 2014.
This new legislation is groundbreaking. It provides a clear formula for the calculation of maintenance, also known as “alimony”, for the first time. The formula states that the amount of maintenance is equal to forty percent of the higher income party’s monthly adjusted gross income less fifty percent of the lower income party’s monthly adjusted gross income. There are some exceptions, and there is a cap, but this is the first time that we have had a formula for alimony in Colorado.
One important note is that this new statutory scheme does not apply to families with joint income over $300,000. For those cases, the courts will continue to weigh a number of discretionary factors, including the parties’ unique financial circumstances and the length of the marriage.
It is hoped that this new method will give the judges a more consistent and predictable approach to maintenance cases in Colorado.
If you are considering legal action for alimony in Colorado, Harris Family Law will consult with you to help you understand your rights and options. Schedule a consultation today or call 303-299-9484.
About the Harris Law Firm:
Established in 1993, The Harris Law Firm is Colorado’s largest family law firm with offices in Denver and Fort Collins. The firm now employs a team of 19 skilled attorneys. In addition to divorce and child custody and child support issues in Colorado, The Harris Law Firm also handles issues regarding maintenance, paternity, grandparents’ rights, and step-parent adoptions.
For more information on The Harris Law Firm, including articles written by our family law attorneys, please visit our website.