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Are there alternatives to monthly alimony payments?

| May 29, 2021 | Divorce |

The years in which women stay at home caring for their home and kids while their husbands spend the day “earning the bacon” are long gone. Now there are all different types of family dynamics.

In some families, one person (of either gender) will stay at home to care for their kids while their spouse works full-time. There are also instances in which both spouses work, and one earns significantly more than another. The court may order the higher-income spouse to pay alimony if they divorce.

If the thought of having to pay a stipend each month as often occurs with alimony rubs you the wrong way, then you may find it of some relief that there may be other options.

Other options may be possible

Your spouse may request a lump sum alimony payment. They might do this to ensure that they get all you owe them. This can prevent an illness, injury, job loss or death from jeopardizing your monthly payments. A lump sum payment made when the divorce is finalized can also aid them in restarting their life.

As the spouse who has to pay alimony, you may derive some benefits by agreeing to a lump sum alimony payment. You may be able to settle for a smaller amount by paying it all at once than the total amount you would be paying over time.

Another alternative to making monthly alimony payments is to offer your spouse additional property instead of spousal support. For example, they might prefer to have a the family home instead of alimony.

When assets, custody and support are at stake, an experienced family law attorney can serve as your advocate to help you work to get the best possible settlement.