Even though divorcing your spouse offers an excellent opportunity to make a fresh start, it may also cause you to experience financial anxiety. After all, you may not have the same monthly income after your marriage ends. Pursuing spousal support may put your mind at ease, fortunately.
In Florida, there are a few different types of alimony. When weighing your options, you may want to consider requesting a lump-sum payment. With this type of spousal support, you receive all your alimony at once instead of in regular installments. Here are four potential benefits of lump-sum alimony:
1. Keep your home
If you love where you live, you may want to continue to occupy your home after your divorce. Nonetheless, if the house is a marital asset, your soon-to-be ex-spouse shares an ownership interest in it. Taking a lump-sum alimony payment, though, may give you the financial means to buy out your husband or wife.
2. Get a job
If you make a significant amount of money after your divorce, your ex-spouse may ask a judge to lower alimony payments or stop them altogether. Of course, by receiving spousal support upfront in a single payment, you eliminate this argument. Therefore, you may be free to get a job or accept a promotion.
3. Find a new spouse
When you remarry, your spouse’s alimony obligations are likely to cease. Accordingly, if you think you want to find a new partner eventually, accepting a lump-sum payout allows you to do so without jeopardizing your spousal support.
4. Ensure payment
Finally, as the recipient of alimony, you must consider your ex-spouse’s ability to pay. He or she could lose a job, become disabled, die or simply stop paying. Naturally, if you receive full payment when you divorce, you do not have to worry about dealing with a non-paying former spouse in the future.
Spousal support may help you secure financial freedom. Which type of alimony you choose to take, however, probably depends on a few different factors. Still, considering a lump-sum payment may be advantageous.