Among all the things that you have to deal with during a divorce, alimony may be one of the most crucial. Alimony is a protection sometimes given to lesser-earning spouses who need some financial support after a divorce. For example, a stay-at-home parent might not have a job that pays enough to support them. Therefore, alimony could be ordered to make up the difference and give them time to catch up in the workplace.
Typically, alimony is not paid permanently. However, it may be in some cases where the couple has been together for many decades or where one spouse is completely reliant on the other and unlikely to be able to work. In almost all cases, alimony can be paid in full up front instead of being paid over time. This can be beneficial if there’s some doubt that the paying spouse may not be able or willing to make their regular payments.
Lump-sum alimony is important because it gives the lesser-earning spouse all they were ordered to receive immediately at the finalization of the divorce. From there, what they do with that money is up to them; They won’t receive any future payments.
Lump-sum alimony can be beneficial, since it may allow you to sever ties with your ex-spouse, allowing you to end your marriage, get the financial support you need and move on without further communication related to your spousal support benefits. Talk to you family law attorney if you think that you deserve or need to receive alimony from your ex-spouse as you move forward after divorce.