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Paying lump-sum alimony? Think again

On Behalf of | Jun 3, 2020 | Divorce |

Divorce isn’t easy on anybody in New Hampshire. The negotiation process can turn ugly, and tensions can be high for you and your ex-spouse. If you’re saddled with the burden of having to pay alimony or spousal support, the anxiety and frustration doubles. It’s understandable if you simply want to get all the alimony payments done with quickly and move on with the rest of your life.

If that’s your line of thinking, you might be considering opting for a short-term, high-cost payment schedule for your spousal support. However, this form of lump-sum alimony payment does have its potential drawbacks, which are worth you considering before any spousal support plan is finalized in divorce court. Under a lump-sum plan, you would miss out on the advantages that could be gained from a more spread-out schedule.

Savings from a long-term payment plan

Thinking long-term can help you save in the long run. Paying alimony in smaller checks spread out over a longer period does take longer to complete, but it could also result in you paying a lesser total amount compared to what the lump-sum would have been. Small payments each month, for example, are a lot easier for most people to budget for, unlike a single huge deduction from your bank account.

Furthermore, if your ex-spouse gets married or starts living with a new partner, you could very well be able to get a decision in court to end your spousal payments for good. In this case, you would get to keep the alimony money you had not yet paid. Whereas, if you pay your ex all the money up-front, you would lose that money forever.

Help with the details

Needless to say, there’s a lot of specifics when it comes to divorce negotiations and settlements. You want somebody on your side making sure you don’t miss any important details and fighting for your fair treatment under New Hampshire law.