Advantages of Lump-Sum Alimony in Orlando

Lump-sum alimony could be a valid option for divorcing spouses in Florida. If you are interested in the idea of lump-sum alimony, consider discussing this option with an experienced alimony attorney in Orlando. These legal professionals can help you understand the pros and cons of this approach, allowing you to make an informed decision.

Lump-Sum Alimony Gives You a “Clean Break”

A “clean break” is a priority for many divorcing spouses in Florida. As the name suggests, this involves a final end to the relationship with no strings attached. Ongoing, periodic alimony payments require you to maintain at least some kind of relationship with your ex, and this might be frustrating or stressful for many people. This ongoing contact can be particularly problematic after bitter divorces that involve marital misconduct.

When you hand your ex a lump-sum alimony payment, you never have to see them or contact them again. This could be highly attractive for spouses who want to go their separate ways. However, you should know that a truly clean break might be impossible if you have children, as some degree of co-parenting cooperation will be necessary in this situation.

Lump-Sum Alimony Cannot Be Modified

Another potential benefit of lump-sum alimony is its final nature. Once this transaction occurs, there’s no going back. Your spouse can’t come to you later and ask for more money. In contrast, periodic alimony could be subject to modification in the future. For example, your ex might develop some kind of disability in the future and file a petition to modify (increase) their monthly alimony payment.

This would not be possible with lump-sum alimony because once the transaction occurs, it’s final. On the other hand, this could also be a detriment to you if you need to modify your alimony at a later date.

Lump-Sum Alimony Provides More Investment Options

Lump-sum alimony could also provide the recipient with more investment options. When they receive a lump-sum amount instead of smaller, gradual payments, they can invest that higher sum in all kinds of interesting assets. These might include real estate properties. Perhaps the spouse will use their alimony for a down payment on a new personal residence or rental property. They might also use their lump-sum alimony to purchase treasuries or dividend-paying stocks. These methods could provide the recipient with passive income that would otherwise be impossible with periodic alimony.

Ask Your Lawyer Whether Lump-Sum Alimony Makes Sense

While lump-sum alimony could be advantageous for various reasons, it may not be possible in all situations. Speak with your lawyer to determine whether this option truly makes sense based on your unique circumstances.

Can an Alimony Lawyer in Orlando Help Me?

If you’re still not sure whether lump-sum alimony is the right choice for you, consider speaking with an alimony attorney in Orlando. These legal professionals can help you assess the advantages and disadvantages of this approach, allowing you to make the best possible decision based on your unique circumstances. Discuss your specific situation with Steve Marsee, P.A. today.

Source:

 leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.08.html