Friday, April 12, 2024

Which Alimony Is Right for You?


Divorce is a difficult time for all parties involved. Figuring out how to divide assets and determine custody is a delicate process that should not be rushed. In some cases, when one member of the marriage has a higher income than the other, they may be required to pay alimony. There are several types of alimony available in Florida and if you would like to know which would work best for your situation, read on.

Permanent Alimony

Permanent alimony is what most people are probably familiar with. It is becoming less common than it was in the past, as both spouses are more likely to earn their own income and be able to support themselves. It is usually awarded when the marriage was a long one, for example, thirty years. Usually, one of the spouses needs to be financially dependent on the other one. Other criteria for permanent alimony include:

  • One of the spouses having a physical or mental handicap
  • One spouse was the main earner earlier in the marriage to support the other while they were earning a degree
  • If one spouse gave up their career to support their spouse and raise children

Whether permanent alimony is appropriate is determined in court.

Durational Alimony

If you are new to the world of alimony, you might wonder “what is durational alimony?“. This type of alimony is usually awarded after short to medium-term marriages and are only paid for a set period of time, instead of until death or remarriage. Marriages are considered short and medium-term marriages if they last less than 17 years, though this can vary from district to district.

Lump-Sum Alimony

The two types of alimony discussed above are usually paid out over a period of time, perhaps monthly or quarterly. Lump-sum alimony, on the other hand, allows the ex-spouse to receive all the alimony at once. This is something worth negotiating, although it may result in less money overall because it protects you against your ex-spouse suffering job loss or financial difficulty. You would also be able to remarry without losing your settlement money. You also won’t need to worry about your ex-spouse suddenly stopping payments.

Divorce can be sad and you may not want to think about uncomfortable things like money. However, if you feel like you deserve some support from your ex-spouse, consult with your attorney to make sure you get the best deal for yourself.

Eric Lilly
the authorEric Lilly