Provide Up-Front Alimony To Help Your Ex With These Costs

26 October 2018
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When one divorced person pays alimony to his or her ex-spouse, it's common for these payments to come on a monthly basis. There are many factors that will support how much one spouse pays the other in alimony, and these payments can last for years. There are, however, some scenarios in which you may not have to pay alimony on a monthly basis. Instead, you can talk to your divorce attorney about providing an up-front sum of money that will help your ex with his or her immediate expenses. This can be a preferable alternative to paying monthly, and allows for a cleaner break with your ex after the divorce is finalized. Here are some costs that this payment can help with.

Education

It's possible that your spouse either stopped working while you were married or perhaps worked menial jobs so that he or she could raise the children and take care of the home. Once divorced, your ex will need to get working on a full-time, permanent basis once again — but doing so can be easier said than done. Your up-front alimony payment can help him or her to receive the necessary education to make the shift to a chosen field. In this scenario, your payment might cover some or all of your ex's tuition.

Housing

There are many different options to explore during a divorce regarding the housing arrangements that each of you will have once everything gets finalized. Instead of alimony payments made monthly, you might wish to discuss giving your spouse a one-time payment that will be enough for him or her to put forward a down payment on a house. This prevents your ex from having to rent for an indefinite period while scraping enough money together for a down payment.

Debts

Outside of debts such as your mortgage, it's possible that your spouse could have debts such as a car loan or a personal loan. Regardless of whether or not you've been helping him or her make these payments, you might wish to negotiate an up-front alimony payment that will cover one or more of these debts. Instead of giving your spouse money every month for the next several years, you can instead feel confident that your one-time payment will eliminate these debts to allow your spouse to move on with his or her life. Talk about this concept with your divorce attorney and decide how you'll proceed.

Contact a law firm, like Hugh O. Allen Law Offices, to get started.