Like many in Plantation, you may have a lot of misconceptions about alimony. In reality, it is only meant to be a temporary means of assistance while you (or your ex-spouse) work your way back into a position of enjoying a similar standard of living to the one you had while you were married. Alimony may also not be something that you (or your ex-spouse) are required to pay indefinitely. According to the Florida Bar Journal, the court may decide to award a lump-sum alimony payment in your case.
Just as the name implies, lump-sum alimony is a financial obligation with a clearly defined value. You (or your ex-spouse) may be asked to be pay the entire amount up-front provided that doing so will not place any undue financial hardships on either of you. Even in cases where the court has awarded permanent, rehabilitative or bridge-the-gap alimony, the court may offer you (or your ex-spouse) the chance to pay the entire obligation in a lump-sum.
Why might you consider asking for lump-sum alimony? Say, for example, that you have immediate financial needs that would be difficult to meet if you had to liquidate certain assets you were awarded through property division. A lump-sum alimony payment might be included in your property division agreement, or to balance any perceived inequities that arose in your case’s final ruling. Because a lump-sum payment is a pre-determined amount owed to you, any remaining balances on it may also be required to be paid to your estate should you die.
Why would you ask to make a lump-sum alimony payment? Despite being called a lump-sum, you can make arrangements to pay it over time. You might even able to arrange set payments (since a lump-sum judgment is not subject to modification).