Q: Asking question for my son. Married 20 yrs. Brought a house 3 yrs ago. Works same company 19yrs. She works, pay is cash.
We want to divorce, 16yr daughter wants to stay with dad. We live in Colorado springs. All debts and credits in both our names, if we sell the house, she can have all profit. Will I still have to pay her alimony since she doesn't have a tax paying job? Is she entitled to my 401 from my job.
A: Spousal maintenance depends on the length of the marriage and the income of the parties. if you can establish her cash income or if she admits to it, then that will count. As for your retirement assets, Colorado is an equitable distribution state so all marital assets and debts are to be divided at the time of dissolution.
A: Assuming you have the higher income, alimony is likely. Your 401k and the house are marital property, subject to an equitable division. You should get a lawyer to help you with this.
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