Just like periodic or monthly alimony, lump sum alimony is spousal support paid by one spouse to the other spouse post-divorce. What differentiates lump sum alimony from periodic alimony is how the payment is made. Instead of being paid in monthly or bi-weekly payments, lump sum alimony that is either awarded or paid in one lump sum. Although lump sum alimony takes the form of a single payment from the obligated spouse to the recipient spouse, it should not be confused with equitable division. Lump sum alimony is not a division of a couple’s marital assets, it is a lump sum payment to be made from the obligated spouse’s separate or non-marital assets.
There are certain benefits to receiving alimony in a lump sum, instead of on a periodic basis. For example, a lump sum alimony award ensures the recipient spouse will receive a pre-determined amount of alimony, regardless of remarriage, cohabitation or change in financial circumstances. Just as there are benefits, there are drawbacks as well. To determine if lump sum alimony is a viable option in your divorce, see our article regarding lump sum alimony in Georgia for more information, and contact one of our friendly Georgia divorce professionals with any questions.