What is the deal with lump sum alimony in Florida?
The courts have been given little guidance on how to award lump sum alimony. Lump sum alimony is often used by courts to liberally, ‘fill a need” they think that the asking party may deserve. Some parties also routinely agree to this option in their settlement agreements.
When you first think of lump sum payment, you probably think that a party has to cut a huge check for the other party, as soon as the dissolution of marriage is final. It is true that lump sum payments require a fixed payment, for a liquidated amount of money. However, it is not true that it has to be paid in one big pile of cash.
Lump sum can still be made in payments, and unlike permanent periodic payments, the amount of payments made are fixed to a certain duration. Additionally, because the payments are fixed, they may be awarded to the payee’s estate, even in the result of untimely death.