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What are some benefits of a lump sum alimony settlement?

One of the most common issues that arise in a Florida divorce is alimony. Like other matters involving money, alimony may result in conflict between the two spouses. While the court will have its own opinion on how to settle the matter, it can be easier on the two parties to learn about their options before heading to court.

Today, divorcing couples have more than one alimony option from which to choose. The lump sum support solution is becoming a popular choice in Florida. The benefits of lump sum spousal support spread to both parties in many cases and often includes:

  • Receiving spouse: Access to a potentially large amount of money at one time can offer immediate solutions for cash-strapped individuals.
  • Paying spouse: Once the payment is made and accepted, the spouse responsible for support can move on unburdened by future payments.
  • Both spouses: When a clean and complete break is the goal, lump sum alimony means no further contact with one another. Of course, if the couple shares minor children, contact will still be necessary.
  • Receiving spouse: A lump sum payment eliminates the stress of trying to collect overdue or absent payments.
  • Paying spouse: Paying alimony all at once ensures that paying spouses are never targeted for collection.

Lump sum alimony is not appropriate for all couples getting divorced. A family law attorney can discuss the matter with you and help you identify the best type of alimony for your situation. He or she can also help you prepare for this and other divorce issues that could otherwise complicate your case.

Source: FindLaw, "Avoid Alimony Monthly Payment Programs," accessed May 24, 2018

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