NPO: Groundbreaking Alimony Legislation in Colorado

Article here. Excerpt:

'For the first time, Colorado has a clear formula for the calculation of alimony. The new legislation, House Bill 13-1058, goes into effect January of 2014. Governor John Hickenlooper signed it on May 10, 2013.

The alimony legislation, referred to as the Maintenance Act, defines the state’s new guidelines for the determination of spousal maintenance. Maintenance is the amount of court ordered spousal support paid by the higher earning spouse to the lower earning spouse each month for a specified period of time following a divorce or legal separation.

The formula states that the amount of maintenance is equal to forty percent of the higher income party’s monthly adjusted gross income less fifty percent of the lower income party’s monthly adjusted gross income. There are some exceptions, and there is a cap, but this is the first time that Colorado has had a formula.'