Alimony payments are part of some divorces. You can probably understand why some people who have to pay alimony might not want to make those payments. While many alimony orders are set up for regularly occurring payments, it might be possible for you avoid having to make those payments.
One option that you have to avoid paying monthly payments is to work on making a lump sum payment. You would have to pay more money up front; however, you wouldn’t have to worry about making more payments to your ex.
For some people, making monthly payments isn’t a huge deal. For example, if you and your ex have children together, you will have to deal with him or her anyway. This might mean that you can just hand over the alimony check when you exchange children.
Lump sum payments benefit the recipient as well. Recipients can rest assured that they have gotten their alimony payments. They won’t have to worry about payments stopping if they are ready to get married again. They also won’t have to worry about fighting for the payments.
Whether you are the paying party or the recipient, you can think carefully about the pay structure of the alimony payments. Think about how a lump sum payment can help you and how it might harm you. Find out about the tax implications. Think about how regularly occurring payments might affect you.
There isn’t any one-size-fits-all solution to alimony cases. Instead, you have to find the option that works for your situation. If you and your ex can’t come to an agreement, it will be out of your hands because the court will decide what is going to happen.
Source: FindLaw, “Avoid Alimony Monthly Payment Programs,” accessed March 24, 2017