Maintenance was formerly called alimony. Starting on January 1, 2014, Colorado's statute concerning maintenance will be changed. The judges will have a formula based on the number of years of marriage to determine the amount of post divorce maintenance. You should also consider asking that the court require your spouse to carry Life Insurance so that if he or she dies, you will not be at risk to lose out on maintenance (or child support). In a divorce, the court has authority to order husband to maintain his life insurance policy for benefit of his children. See In re Anderson's Marriage, App.1975, 541 P.2d 1274, 37 Colo.App. 55
A prenuptial agreement (pre-nup) or a postnuptial (antenuptial) agreement may substantially impact your property division, debt division, and an award of maintenance in a divorce. Here are some things you should know:
Most people think that all assets in the divorce process are divided exactly 50/50. However, property does not have to be divided equally, just equitably and justly. The relevant statute (Colorado Revised Statutes § 14-10-113. Disposition of property) says, in part:
There are two types of property in Colorado: 1) Separate Property and 2) Marital Property.
A very common error in divorce settlements is comparing pre-taxed assets to after-taxed assets or comparing assets that are immediately available to assets which are not. Consider all tax implications or you may not be receiving a fair settlement. Consult with your attorney and financial advisor.