Spousal support is a common concern among Colorado couples who are going through the divorce process. In general, a court will consider the incomes of both partners and the couple’s lifestyle. The judge may also consider other factors, including the length of the relationship, the age and health of both partners, whether there are minor children and what non-marital assets each person owns.
One may be required to pay support that assists the other spouse in getting more education or training to prepare for a new career. Spousal support can also be made modifiable. This would mean that the amount paid could change if either spouse had a significant change in income. However, some people decide against making it modifiable since going back to court can be costly in both time and money.
Couples might want to consider disability insurance that will continue paying the recipient spouse even if the payer is unable to work. Life insurance might be helpful in maintaining payments if the paying spouse dies. However, this policy should be taken out before the divorce agreement is final in case the spouse is uninsurable and other arrangements must be made.
A soon-to-be ex who is concerned about alimony payments may want to consult with a family law attorney to discuss their financial situation. While spousal support payments do not affect taxes, other arrangements concerning property division in a divorce might. For example, the couple may agree to sell some assets and split the proceeds, but they should be aware that there could be tax on the sale.