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There Are Alternatives to Monthly Spousal Support Payments

In the State of Texas, alimony (called spousal maintenance in Texas) is a payment system that is intended to help offset one spouse’s divorce-based financial setback. As such, if you have the financial means to help and your ex is deemed to be financially disadvantaged by your divorce, the court may order you to pay alimony. Typically, alimony is paid on a monthly basis for a set length of time that is designed to help your ex establish better financial footing. There may, however, be an option other than monthly payments, and an experienced Williamson County divorce attorney can help you find your best path forward. (Questions to Ask a Divorce Attorney During a Consultation)

Monthly Payments

Divorce is difficult, and it generally introduces both parties to harsh financial realities. Typically, both spouses come away from divorce less well off financially. Looking at monthly alimony payments into the future can be a difficult pill to swallow, and there are a number of reasons why you may want to consider other payment options. For one, if you experience a financial downturn of your own post-divorce – and none of us are immune – keeping up with your alimony payments is likely to be an additional burden. Further, some people simply don’t want the monthly obligation and reminder that alimony represents and would prefer to move forward with a clean slate. Whatever your motivation, there may be another way.

A Lump-Sum Payment

One option other than monthly alimony payments is negotiating a lump-sum payment that you make upon divorce. There are advantages involved for your divorcing spouse, including:

  • He or she is guaranteed payment and will not need to worry about arrearages in the future.

  • He or she can use the lump sum to his or her financial advantage now, such as by making a down payment on a home or by investing the funds.

  • He or she can also benefit from the clean-slate effect.

In the end, these advantages may allow you to negotiate a slightly lower overall payment. There are financial implications involved with this approach, so it is important to examine this payment mechanism from all angles.

The Allocation of Additional Property

Another approach that bypasses monthly alimony payments is offering your soon-to-be ex additional property considerations, such as shares in a business, a larger portion of your pension, or part of any other separate financial asset. Again, you should discuss the financial implications of this option with an experienced divorce attorney who is up to speed with your financial situation.

Turn to an Experienced Williamson County Divorce Attorney for the Legal Guidance You Need

Alimony concerns are serious financial concerns, and Brett Pritchard at The Law Office of Brett H. Pritchard in Williamson County, Texas, is a dedicated divorce attorney who takes all of your divorce concerns seriously and is committed to skillfully negotiating terms that work for you. (Be Honest with Your Divorce Attorney)  We are here to help, so please do not wait to contact or call us at 254-501-4040 for more information today.

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