What is the purpose of alimony? Is alimony paid for life? These might be some of the major concerns that are revolving around your head? Isn’t it? If so, then it is a right time to expand the knowledge on the alimony law. Do not fret, as this informative piece will discuss the Colorado alimony law.
The alimony basically refers to the periodic planned amount that is given to the spouse after signing the divorce or separation agreement. Hence, it too becomes the part of the divorce law.
In short, the alimony will be presented to the ex-spouses with the long term marriage and hence will be halted after the death of wither spouse, court orders or remarriage of the ex-spouse.
If the payer refuses to pay the alimony payment, then they would be another consequence for the criminal or civil charges.
The alimony is an important concern and the knowledge or information of the same is to be considered by every individual.
Therefore, to help you out, it is a perfect time to dive into the following segments.
So, here we go!!
What Is Alimony?
Before proceeding further, did you know what alimony means? If not, then let’s have a quick sneak peek over the same.
Well, in the divorce law, alimony is said to be a compensation that is being collected by one spouse or partner from another after the divorce as a financial support.
Earlier the alimony was being granted to the wives by their husband but now with the great development, the wives grants the alimony to their husbands.
Did you know the exciting fact or history of alimony? Well, the alimony obligations were imposed by Greeks, Hebrews, and Egyptians.
The types of alimony differ from state to state. Let’s take an example of California here. It has five different types of alimony. These are as follows:
First is Temporary Alimony
- Well, the temporary alimony is paid during the divorce procedure, especially when the judgement is pending.
- It includes the daily expenses and divorce cost.
- It will get discontinued once the divorce is settled.
Second is Permanent Alimony
- It is paid on the monthly basis and also said to be a maintenance send to the spouse.
- It can be carried until either spouse dies or get remarried with the partner that earns lower.
Third is Rehabilitative Alimony
- When the partner who earns lesser attempts to raise the employment chances with new jobs or education.
- It gets discontinued after a fixed tenure or whenever the payee becomes independent of being the dependent spouse.
Fourth is Reimbursement Alimony
- It is a type of alimony where a spouse pays the lower earning spouse as a return for some expenses including work training or tuition.
- Well, it is not considered to be an ongoing alimony.
Fifth is Lump Sum Alimony
- It is basically paid instead of the property settlement.
- It is done when the spouse rejects to have any property or marital asset as an alimony.
- Hence the spouse make the lump sum payment instead of any any property.
How Alimony in Colorado is Determined
The courts have the wider range of liberty in finding the spousal support grant or not and if it is done then for how much and how long it can be done. In many states the child support is designated as per the peculiar monetary guidelines.
Moreover, the following factors are urged by the courts to be followed for making the alimony awards decision by looking at the Uniform Marriage and Divorce Act:
- The tenure a recipient requires for completing the training and education and for becoming self-sufficient.
- The other factor that matters here is the length of the marriage.
- The standard of living also matters of the couples during their marriage.
- The ability of the spouse who is going to pay the alimony is also considered so that he can also support himself after paying alimony.
- The most important factor that is considered is the physical condition, financial condition, age and emotional state of the former spouse.
If you are thinking of permanent alimony, then it is significant to pen down that there is a difference between a maintenance and permanent alimony.
The permanent alimony refers to the amount that is received at once after the divorce whereas the maintenance is the one that is paid after every month during and after the divorce procedure.
Moreover, if the objective of the alimony is taken into consideration, then it offers the assistance so that the spouse can easily live and adapt the lifestyle after divorce.
If you are thinking of alimony as a punishment, then it is a time to set a pause on the same and understand that the alimony acts as a support for the one spouse and hence does not mean the punishment for the other.