27 July 2011 0 Comments

Monthly spousal support versus one lump-sum payment

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It has been asked if it is better to give or receive monthly spousal-support payments or one large lump-sum payment. The answer depends on whether you are paying or receiving.

Monthly spousal support payments come in handy when it comes to paying monthly bills. It is money the ex-spouse can depend on. It is given to the spouse who is financially disadvantaged so they continue living the life they once enjoyed – when married. Payments will stop if the ex-spouse remarries or if one of the spouses dies. The spouse paying the support can always request a modification if he or she loses income.

Lump-sum spousal support is a fixed amount of money given one time only. Once it is given, the individuals do not have to worry about future income changing. A disadvantage to receiving a lump-sum payment is that the Internal Revenue Service looks at it as a property settlement, not alimony.

Receiving spousal support can be a complex situation. If you have questions regarding how best to pay it, contact an experienced Riverside Family Law attorney who will explain all options to you and help you decide what is best for your financial situation.

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