Lump sum payments: Monthly alimony payments might be avoidable

When you go through a divorce, especially when you don’t have children together, the last thing that you probably want is to be tied to your ex afterwards. For some people, the terms of the divorce mean that they won’t be able to bid adieu to their ex for a long time. This is because they might have to make alimony payments.

Just like many things in life, there is an alternative to being saddled with monthly payments to your ex. You might be able to work out a deal for a lump sum spousal support payment. This enables you to make one payment right away and then never have to deal with them again.

The catch to this option is that you will be out of a lot of money upfront. Your lump sum payment has to be the equivalent to the amount that you would pay out if you were paying monthly. This might be hard to discern because — although these circumstances are rare — the order for alimony might not have an end date.

Sometimes, these support payments will continue until one party dies or until the recipient gets married again or lives with a significant other. When you make a lump sum payment, you don’t have to worry about what is going on with your ex. You won’t have to concern yourself with the fact that they might be avoiding another marriage just to continue getting alimony payments.

In all divorces that might include alimony, the parties must ensure they know their rights and that they are protecting them. It can be helpful to meet with an attorney to see what options may be available for you.