Know the impacts of choosing a lump-sum alimony payment

Alimony payments aren’t as common these days as they once were. Many divorces don’t include any provisions for this, but if there is a reason to think that yours will, now is the time to explore the options that you have for it. One thing that you might need to consider is how often you will pay.

Many people assume that alimony payments are made on a regularly occurring basis. There is one option that you might not have thought about – a single, lump-sum payment. This isn’t appropriate for all cases. In fact, only individuals who have the money on hand to do this can take advantage of this option.

When you try to make a lump-sum payment, you have to remember that your spouse may want you to pay the same as what they would have gotten if they accepted the monthly or semimonthly payments; however, there is always a benefit to getting the payments in full in advance. This may allow for more room to negotiate a lower total payment. This can be hard to figure out, so you need to determine the amount as early as possible, so you can figure out whether this is a feasible option or not.

If you are able to make a lump-sum payment, you won’t have to worry about making ongoing spousal support payments to your ex. Also many regularly occurring alimony payments hinge on the recipient not living with a significant other or getting married. When you make a lump sum, you won’t have to keep track of what your ex has going on, which could help you to leave that part of your life firmly in the past.