What is Lump Sum Alimony?

Before you sign a divorce settlement agreement, it is important to understand divorce, property division, and alimony laws in your state. By understanding the laws and speaking with a Raleigh family law attorney, you'll have knowledge of what types of alimony you may be entitled to, such as lump sum alimony. Lump sum alimony, also referred to as alimony in gross, refers to a fixed payment that cannot be changed under most circumstances. For example, whereas other alimonies will end when you remarry, lump sum alimony will continue to be paid.

In some cases, divorcing parties decide on lump sum alimony instead of battling it out over property division. It can provide tax benefits for the payor and can be used as a type of reimbursement program for one spouse even if that spouse remarries. Once both parties have agreed to lump sum alimony, it is very difficult to have the parameters of the agreement changed. Therefore, it is important to be absolutely satisfied with your divorce settlement before signing the papers. To learn more about lump sum alimony and other forms of spousal support, contact Hopper Law Office today and arrange a consultation with a Raleigh family lawyer who can address your questions.

Related Posts
  • Mistakes to Avoid After Divorce Read More
  • Same-Sex Couple Sues NC, Changes Birth Certificate Policy Read More
  • Tips for Winning Custody of your Child Read More