Does alimony terminate when the payor retires?

In Colorado, alimony does not terminate when the payor retires, unless specified as part of the court order awarding spousal maintenance. Colorado law does allow the court to end or modify the amount or duration of alimony payments if there is a “substantial and continuing change of circumstances.” This could mean that a payor’s retirement could be seen as a substantial and continuing change of circumstances that would allow for a court to terminate or modify alimony payments. In order for a court to reach such a conclusion, the court would need to assess the financial situation of the recipient and the payor before and after retirement. If the court finds that the payor has sufficient assets to cover the alimony payments, or that the payor is in a better financial position, then the court could continue with the alimony payments. On the other hand, if the court finds that the payor’s retirement has resulted in a dramatic decrease in their income, then the court could terminate or reduce the alimony payments. Ultimately, whether alimony terminates when the payor retires depends on the individual circumstances of the payor and recipient. If the recipient can demonstrate an ongoing need for the alimony payments, then a court could order them to continue, even after retirement. It is important to note that if the court modifies or terminates alimony payments due to retirement, this will not be retroactive. The court will only make changes to the payments that happen after the payor’s retirement date.

Related FAQs

Are alimony payments considered alimony for tax purposes?
Is there a formula for calculating alimony awards?
How is alimony affected if either party moves to a new state?
Are alimony payments considered earnings for Social Security purposes?
Can a court award retroactive alimony payments?
Can alimony be modified?
Can a court award alimony to both spouses in a divorce?
Are alimony payments nontaxable to the payor in all states?
What is the difference between alimony and spousal support?
Does alimony have to be paid if the payor is unemployed?

Does alimony terminate when the payor retires?

Related FAQs

Related Blog Posts