Lump Sum Payments For Alimony In Fort Lauderdale
Getting a divorce in Fort Lauderdale can be devastating financially, particularly if your spouse makes more than you. To help you recover, Broward County judges may order alimony.
In some Florida divorces, alimony is paid in a lump sum, rather than as ongoing support. This approach can offer a clean break, but it also carries financial and legal trade-offs. Our experienced Fort Lauderdale alimony attorney explains how lump sum payments work and how to decide if it’s the right option in your divorce case.
How Lump Sum Alimony Works in Fort Lauderdale Divorce
Under the Florida Statutes, alimony may be an option in Fort Lauderdale divorce cases if one spouse makes considerably less than the other, or sacrificed their career or education for the sake of the marriage. The law allows for various types of alimony, including lump-sum payments.
Courts may award this type of support based on all the facts involved and when it makes sense for both parties. Here’s how lump sum alimony typically works:
- The paying spouse may provide a single payment or a short series of payments instead of long-term support.
- Lump-sum alimony is often tied to asset division, such as offsetting equity in a home or business.
- Once paid, the obligation is usually complete. There are no ongoing monthly payments.
- Unlike monthly alimony, lump sum payments are typically non-modifiable, even if circumstances change.
- A judge must find the arrangement fair and supported by the financial evidence.
While lump sum alimony can simplify the payment process, it’s important to be aware of complications that can arise as a result.
Advantages (and Disadvantages) of Lump Sum Alimony in Broward County
If you are entitled to alimony in a Broward County divorce, getting it in a lump sum may be appealing, especially if you want to avoid further contact with your soon-to-be ex-spouse. It reduces the risk of non-payment and prevents you from having to take ongoing enforcement efforts.
However, while there are definite advantages, it is not the right choice for everyone. Potential disadvantages include:
- The paying spouse must have enough assets or liquidity to cover the amount.
- If your financial situation changes, you usually can’t go back and modify the agreement.
- Receiving a large payment could have tax consequences and requires planning to manage and preserve those funds.
- Accepting a lump sum may leave the receiving spouse short if long-term expenses exceed expectations.
Before making any final decisions about lump sum payments, contact an experienced Fort Lauderdale alimony attorney first.
To Discuss Payment Options, Contact Our Experienced Fort Lauderdale Alimony Attorney
Alimony decisions affect your financial future long after your divorce is over. Whether you’re considering a lump sum or monthly support, the structure you choose should reflect your goals, assets, and long-term needs.
At The Law Office of Sandra Bonfiglio, we help Broward County clients evaluate their options, negotiate fair settlements, and avoid costly mistakes. Contact us today to schedule a confidential consultation with our experienced Fort Lauderdale alimony attorney.
Sources:
leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.08.html
browardclerk.org/Divisions/Family
