Englewood Spousal Maintenance Attorneys

Alimony in High-Asset Divorces

High-asset divorces often involve complex financial considerations, which can significantly impact alimony awards. When substantial wealth or unique assets like businesses, investments, or real estate are part of an asset division process, the court must carefully evaluate both parties' claim to these assets and their ability to support themselves and their lifestyles after a divorce is finalized. This includes factors such as the standard of living established during the marriage, the earning potential of each spouse, and the contributions made by a non-earning or lower-earning spouse to the accumulation of marital wealth. 

Additionally, the valuation and division of high-value assets can complicate alimony calculations, often requiring input from financial experts or accountants. Due to these complexities, alimony in high-asset divorces can result in larger payments and longer durations compared to standard cases.

Alimony for Spouses with Low or No Income

For couples with low or no income, alimony requirements often focus on ensuring that both parties can meet their basic needs following the divorce. Courts typically assess factors such as the length of the marriage, the financial needs of both parties, and both spouse's abilities to earn a living based on previous employment, age, and other factors. The goal is to establish a fair arrangement that prevents undue hardship for the dependent spouse while considering the limited financial resources available.

Alimony for Short Marriages

Alimony is not uncommon when dissolving a long-term marriage that has lasted for several years or more. However, that doesn't mean shorter marriages are exempt from alimony, either. Here in Colorado, this "magic number" is three years--if your marriage has continued for more than three years, then some form of alimony could be required. However, if your marriage has not reached the three-year mark, alimony is less common.

While they are less likely to see substantial or significant alimony awards, short marriages involving high-asset property division, significant gains or increases in wealth, or marriages that include complicated financial matters may be subject to alimony depending on the asset division process. It's important to review your financial situation closely with an attorney to see if spousal maintenance may be necessary in your unique situation.

Maintenance Modifications

Spousal support orders are designed to fit a divorcing couple's circumstances as they are at the time of the divorce, but those circumstances rarely remain stagnant for long. Therefore, it stands to reason that they may need to modify their maintenance order for one reason or another.

Modifying a spousal support order in Colorado typically requires a significant change in circumstances for one or both parties since the original order was established. Either spouse can request a modification by filing a motion with the court, outlining the substantial change that necessitates the adjustment. The court will then review the request and evidence provided to determine if a modification is warranted. It's important to note that not all spousal support arrangements are modifiable, particularly if the original agreement included a non-modifiable clause.

Here are a few reasons why a couple may need to modify a spousal support order:

• A substantial increase or decrease in the income of either party.
• A significant change in the cost of living or financial circumstances.
• Loss of employment or a new job opportunity for one of the spouses.
• A serious health condition or disability affecting either spouse.
• Changes in dependency, such as a child reaching adulthood.

The modification process generally involves submitting proper legal documentation to support the claim of changing circumstances and attending a court hearing. At this hearing, both parties have the opportunity to present their case, and the court will base its decision on the evidence provided and whether the changes align with Colorado’s legal guidelines. Consulting an experienced attorney can help ensure navigate this process and work towards a fairer and more equitable solution for all parties.