Financial Support For Children And Ex-Spouses
At The Law Center P.C., we fully understand the impact that financial obligations have on our clients and their families. Our team of lawyers is adept at calculating, enforcing and modifying child support and spousal maintenance orders.
We regularly represent both high net worth individuals and those with more limited means throughout Colorado.
Child Support Obligations
In Colorado, both parents must contribute a reasonable amount to the support of their children, regardless of their income. Family law courts determine the specific amount of child support to be paid based on factors such as:
- The number of children belonging to the couple
- The gross monthly income of each parent
- The monthly cost of day care
- The monthly cost of family group health insurance
Failure to pay child support can result in the loss of your driver’s license and/or your professional license. You may also lose your right to claim the personal exemptions for the children on tax returns. Our attorneys will make sure your financial situation is properly presented to the courts while the amount of child support owed by each parent is being determined.
Spousal Maintenance Payments
On Jan. 1, 2014, new advisory guidelines regarding spousal maintenance (commonly called alimony) went into effect in Colorado. These guidelines apply to divorcing couples with a combined annual income of $240,000 or less and whose marriage lasted between three and 20 years.
Essentially, the guidelines are a mathematical formula. They calculate 40 percent of what the higher-earning spouse makes per month, and from that, they subtract 50 percent of what the lesser-earning spouse makes per month. Changes to the federal tax code that eliminated the tax deduction for the person paying the spousal support resulted in a 25% reduction in the amount resulting from that calculation.
We Will Look Out For Your Best Interests
Depending on your situation, it may be possible to argue for a deviation from the financial support guidelines. Count on our lawyers to diligently uphold your interests. Contact The Law Center P.C. at 303-991-5280 or send an email to schedule an initial consultation.