What is Lump sum alimony?
Lump sum alimony is a complicated area of Florida divorce law and has seen many contradicting court rulings over the years. It is a form of alimony awarded as a lump sum, and is not subject to modification or termination in the case of death or remarriage of either party. The conditions for lump sum alimony are as follows: (1) the award must be specified as either needed for support, or for use as an equalizing payment in equitable distribution of marital assets; and (2) if used for support, there must be special circumstances in the case which call for a non-modifiable amount of support. Lump sum alimony is often used as the basis to award the marital home/property to one spouse. Often times if the paying spouse cannot afford alimony payments at the time of divorce, the court will grant his/her share of a property or business to the recipient spouse as payment. When the paying spouse can afford to do so, the court may order a lump sum alimony award at the time of divorce in order to sever all ties between the two parties. Lump sum alimony may be combined with permanent alimony plan if the recipient spouse requires a greater amount of support early on.