If you’re set on following through with your gray divorce, contact the Tampa divorce lawyers at Givens Law Group today. We have decades of collective experience and are ready to use that knowledge to ensure that your divorce goes smoothly. Due to COVID-19, we will be conducting all consultations either via video chat, phone, or email. Please don’t hesitate to contact us if you have any questions!

Lump Sum Alimony

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 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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At Givens Law Group, your family is our family. As such, we promise to fight for each client and voraciously protect their best interests.
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