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Should you take a lump sum alimony payment?

You don’t work and your spouse does, so the first thing you think of when they ask for a divorce is how you’re going to make ends meet. You can’t imagine even paying the rent, let alone helping raise the kids or anything else. 

The solution is alimony (spousal support). Your spouse can pay you a sum for a set number of months – this may really last for years – after the divorce. This helps you get back on your feet. It may be just for a short time or for a longer time, depending on the situation.

Rather than paying you every month for the foreseeable future, your spouse may offer to pay you one lump sum upfront and be done with it. Should you take it?

There can be serious benefits

There actually are a lot of benefits to doing this. One, for instance, is that you don’t have to worry about your spouse losing their job and not being able to make payments in the future. You already have all the money that they’re going to pay you.

Another benefit is that you don’t really have to interact with your spouse. For couples without children, alimony may be the only real connection they have left. If you’re looking to just sever that tie, a lump sum may help you do it.

Finally, you don’t have to worry about your spouse refusing to pay in the future. People often feel more resentful of alimony down the line, so getting all the money upfront could eliminate some disputes or non-payment issues. No matter what you decide to do, just be sure you understand all of your rights and legal options so that you can make an informed decision.

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