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Is alimony ever paid all at once?

On Behalf of | Apr 5, 2019 | Divorce

Like child support and custody, alimony is an important legal matter that is associated with divorce proceedings. Only when two people decide to end their marriage will they determine with their divorce court if alimony is appropriate for them. In Virginia and jurisdictions throughout the nation, alimony is spousal support that one former martial partner may have to pay to the other to provide them with needed financial assistance in their post-divorce life.

Alimony is generally paid over time through periodic payments. Like a mortgage or car payment, alimony payments may be made every month or on a regular schedule that is understood by both the paying and receiving parties. Alimony can be paid indefinitely or for only a certain number of years; when necessary, alimony awards and agreements can be modified to accommodate the changing needs of the parties.

However, alimony can also be paid out as a lump sum. During a divorce a couple may agree that a single payment of alimony is appropriate and that single payment may be sufficiently large to grant the recipient enough money to transition into their new life. Lump sum alimony is a topic that readers may wish to bring up with their divorce attorneys if they believe it may suit their interests and needs.

Divorce can be an emotional event and may cause concerns for those who have opted to end their marriages. Alimony is just one factor in a list of important legal topics that divorcing parties should address. Their legal counselors can help them address the many concerns that they may have about meeting their needs for life after divorce.

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