Florida Lump Sum Alimony
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Florida law allows for either spouse to receive continued financial support
from the other spouse after a divorce. Alimony in Florida is divided into
several different categories and types in order to account for differing
types of marriages and financial situations. Lump sum alimony is usually
applied to a one-time payment of
permanent alimony. Permanent alimony is awarded in long-term marriages. Lump sum alimony
is an alternative to a monthly payment given for an undetermined amount of time.
Courts will base alimony decisions on many different aspects of the marriage. For example, per Florida statute section 61.08, the courts will take into account the following:
- The standard of living during the marriage
- Duration of the marriage
- Financial resources of each person
- Marital and non-marital assets and liabilities distributed to each person
- All sources of income available to each spouse
The courts are not limited to examining the above when determining the amount of alimony or the eligibility of a spouse to receive financial support. The court will want to examine all relevant economic factors in the marriage – the ultimate goal is to achieve justice for both spouses.
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Sometimes lump sum alimony refers to
property division. This isn’t technically “alimony” at all, it is simply
equitable distribution of all assets and liabilities between both parties.
True alimony is financial support paid from one spouse to another to help
maintain the receiving spouse’s standard of living. This type of
alimony (and any alimony) usually ends when either party dies or upon
the remarriage of the receiving spouse. Sometimes if the receiving person
enters into another “supportive relationship,” the amount
of alimony can be modified or terminated.
Alimony is generally tax-deductible to the paying spouse and is actually included in the taxable income of the receiving spouse. If you have questions about alimony, it is important that you speak with an alimony lawyer at Givens Law Group. We can help answer any questions that you might have about your divorce and what to expect regarding spousal support.
Call today at (813) 328-6159.
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