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Lump sum alimony explained

by | Dec 23, 2016 | Firm News |

If a divorce is on the horizon for you and your spouse in Florida, you may be wondering how you will make ends meet once you are on your own. The decisions that you made while you were married, such as staying at home to raise the children, or supporting your spouse while he or she went to school to get a degree, may have left you with significantly less earning power. In some circumstances, Florida laws may stipulate that you are paid alimony in a single lump sum. We at Mercedes R. Wechsler, P.A., are able to explain the details about this type of spousal support, and to explain eligibility.

Before your spouse is ordered to pay you a lump sum of money, or to provide you with personal or real property above what is considered equitable during property division, the court will decide how that payment will affect his or her financial health. After establishing this factor, your specific need of the award will be considered, such as in the case of a large debt that hinders your ability to support yourself adequately. If your divorce has been particularly full of conflict, a judge may determine that the single large payment will eliminate your need for constant interaction with your former spouse.

Neither you nor your spouse may go back to court to change this amount once it is ordered. As with any type of alimony award, the Florida statutes note that your need for the assistance must be established. Among others, your age, how long you were married, your standard of living and financial situation will be considered.

Whether or not you receive alimony may make a considerable difference in your life after your divorce, and a lump sum payment may ease the burden of what is already a very stressful time. More information about this topic is available on our web page.