When you’re going through a divorce, you might be asking for your spouse to help pay your expenses. You might not realize it, but there are actually numerous types of alimony, so you want to know which one is best for your situation. Here are three kinds of alimony that you could consider asking for.
1. Lump-sum Alimony
While most alimony is paid monthly or yearly, with lump-sum alimony, you’d receive one large payment. This single payment is often the desired choice for those paying alimony because it reduces the financial dependence that you might have on them. It would also benefit you because you’d receive the same amount regardless of any changes in your circumstances that might see you losing the monthly payments, such as getting remarried.
2. Durational Alimony
You might be wondering to yourself, what is durational alimony? Durational alimony is a payment type typically used to help you get back on your feet after a divorce. For example, if you didn’t work and instead raised your children, the court would recognize that it wouldn’t be fair to leave you with no source of income.
Durational alimony can be set for a few months or a few years, but it can never exceed the length of the marriage. When deciding how much alimony you’ll receive and for how long, the judge will consider your potential for future earnings, the sacrifices you made in your marriage, and the standard of living you became accustomed to.
3. Permanent Alimony
With permanent alimony, you would receive payments for the rest of your life or until your ex-spouse dies or you remarry. Permanent alimony is usually considered when the marriage lasts for a very long time, usually ten or more years. Additionally, it’s often the preferred method when you have little to no employment history and don’t have much chance of finding a job that will support you in the way you’ve become accustomed to during your marriage.