Alimony, also known as spousal support, is the money that a person pays to their ex after they complete their divorce. Often, alimony takes the form of periodic payments that one party sends to the other on a schedule and that may, at some point in the future, cease. In our state, a person may receive permanent alimony, if their situation demands it.
However, not all alimony awards are paid in this way. In some cases, a paying party may be ordered to make a lump sum payment to their ex. A lump sum payment is a one-time payment that covers the entirety of the payer’s obligation to the other.
The circumstances of the couple and the parties’ divorce will dictate which form of alimony, if any, will apply in their case. While lump sum alimony may make sense to individuals who have substantial financial wealth and who are able to provide their exes with large sums of money at once, many individuals will find that it is easier for them to make monthly, periodic payments to their exes to satisfy their spousal support obligations.
Understanding if alimony will be awarded in a particular divorce case can be complicated. Individuals who would like to secure alimony or who are concerned that they may have to pay it should discuss their questions with their divorce and family law attorneys. Because alimony can look different based on the needs and capacities to pay of the parties, readers should not rely on the contents of this post as legal advice and should get their own help with their legal needs.