Alternatives to alimony monthly payments

Texas residents who are about to enter into the divorce process have a lot on their minds. Sometimes, it can be a highly emotional time in their lives. And for many, there are lots of logistical things to sort out before the divorce process begins. Every divorce is different, and there is no one size fits all solution that is right for everyone. However, with some careful planning and negotiation, it may be possible to reach a solution that works for both parties involved.

In some cases, it may be appropriate for one of the divorcing spouses to begin receiving alimony payments. This is often the case when one of the divorcing spouses abandoned a career to focus on raising the children, thereby making it extremely challenging to reenter the workforce. However, as with other elements in divorce, there is more than one way to pay alimony.

In most cases, alimony is set as a monthly payment. However, there are alternatives. For instance, some may decide that a lump sum payment better suits their situation. This is true for those who want to move on with their lives and not have to be constantly reminded of the past and their past marriage. A lump sum occurs all at once -- there is one payment, as opposed to payments made every month for a designated amount of time. Both the other spouse along with the court have to approve the lump sum payment.

Whether or not to award alimony, like other divorce elements, depends on each couple's unique situation. Moreover, the way in which alimony is designated can differ from divorce to divorce. Knowing all the options available can help soon-to-be divorce spouses decide what is right for them.

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