Divorce often brings financial challenges, especially when it comes to alimony. While traditional spousal support remains common, many Atlanta couples seek different options.
What is traditional alimony?
Traditional alimony involves regular payments from one ex-spouse to another after divorce. Courts typically do this to help the lower-earning spouse maintain their standard of living. But this can create potential conflicts. Here are three alternatives to traditional alimony that you may choose:
Lump sum payment
Instead of monthly payments, the higher-earning spouse can provide a single, larger payment. This helps the other spouse with their financial obligations without needing continued connection. This also avoids long-term obligations on the part of the paying spouse. However, such an option would need careful calculation to reach a fair deal.
Property division
This option gives the lower-earning spouse a larger share of marital assets than regular alimony payments. This may be a better option for couples with limited cash flow. The receiving spouse may obtain more properties or investments from the community property. This method offers immediate wealth division and can provide long-term financial security.
Rehabilitative alimony
This temporary support helps the recipient become financially independent, often through education or job training. Unlike traditional alimony, it has a set end date, usually when the recipient completes their program. This approach encourages self-sufficiency and benefits spouses who pause their careers during marriage. It acts as a bridge to independence rather than indefinite support.
These alternatives offer benefits like:
- Customizable solutions for unique situations
- Possible tax advantages, depending on the chosen option and current laws
Remember, these alternatives might not suit every situation. Factors like marriage length, each spouse’s earning ability and children’s presence influence the best choice. Consult an experienced family law attorney for guidance based on your circumstances and Georgia laws.
