When a couple gets a divorce in Wheat Ridge, Arvada, or Golden, one spouse is often ordered to pay spousal maintenance or alimony to the other in order to maintain the lifestyle the receiving spouse was accustomed to. This situation is usually the case when one spouse earned a significant amount more than the other, or when one spouse was a stay at home parent. But, what happens if the paying party loses their job and can no longer make payments?
When the Jefferson County family law court orders one party to pay alimony or spousal maintenance payments during a divorce, that is not an order that can just be ignored. Through a Wheat Ridge or Arvada divorce, the court recognizes the need for the separating parties to maintain their current standard of living. Especially when one party has a significantly lower income or is a stay at home parent. The court will order for maintenance payments to be made for a period of time in order to help the spouse with the lower income level maintain their lifestyle while trying to become financially independent. The amount of maintenance or alimony that is required to be paid is based on a calculation using current income levels. So, what happens if the party required to pay alimony loses their job?
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