Most of the time, when someone is ordered to pay alimony, they’re going to do it on a monthly basis. This is monthly spousal support because the other person is expected to be supported during the marriage.
For example, maybe a couple got married and one person decided to quit their job in order to help raise the children and take care of the house. If that couple gets divorced, that spouse may feel they have no options to immediately enter the workforce and make their own living. Alimony can be ordered so that they have a form of financial support while they get their feet back on the ground. They then get monthly payments to replace the income they expected during the marriage.
Minimizing contact
However, some people do not want to have monthly contact with their ex. For this reason, they may try to seek lump sum alimony, getting the entire payment upfront. This can be easier if you and your ex have a contentious relationship.
Maximizing financial gain
It’s also important to note that getting all of the money at once means that it is technically going to be worth more. As inflation continues, every dollar that you get in the future is worth less than the one that you got today. Additionally, getting a lump sum for alimony payments that covers five years, for example, could provide a significant amount of money to invest and increase that total.
Of course, lump sum alimony is not always possible. It may be unaffordable or unrealistic. But it helps to show why you really want to consider all the legal options you have.