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Alimony
Payments ... Page 2
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Slim Possibility
- You have a good job. You're earning income that exceeds (or is equal to) your husband's.
- Your property settlement was significant (in your favor).
- Your spouse (or you) will be paying child support. In this case, alimony payments might
be paid on a reduced basis.
- You remarry or go back to work full time.
4) Lump-Sum Settlement
In some cases, you might be able to get a lump-sum settlement instead of a monthly alimony
payment from your ex-husband.
Which is better? There are pros and cons to each. Take a look.
Advantages
- Lump-sums payments might
offer more stability. You don't have to worry about your ex-husband making payments each
month.
- You can end all ties with
your former husband once and for all. No more dependence.
- Getting remarried or
cohabitating with someone generally terminates your alimony payments. You won't have this
worry if you take the lump-sum payment -- the money is yours right away.
Disadvantages
- The sum of your alimony
payments may be worth more than a lump-sum payment.
- Some spouses prefer to have
a check arrive each month. Steady income offers consistency and way to budget.
- Lump-sum payments are not
tax deductible for the paying spouse.
- If the paying spouse get disabled or dies without having adequate life or disability
insurance, your payments might be reduced or possibly stop.
- If the paying spouse loses
their job or suffers a financial setback, alimony payments might be reduced.
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