If you face a divorce as the primary provider between you and your spouse, you may find yourself on the hook for ongoing spousal support payments. For many people, remaining legally or financially tied to an ex-spouse is not an arrangement they want to continue living in. On top of this, ongoing payments to an ex-spouse can create complex issues in your personal finances.
If you believe that you will face an alimony order as part of your divorce, you may not have to make ongoing payments, provided that you navigate the divorce negotiations well. This, however, can prove difficult.
It is always wise to enter into a divorce with proper legal counsel to protect your interests and guide you through the complex issues that arise when couples divorce. From a legal standpoint, divorces are essentially the dissolution of a business relationship. Your financial life comes under great scrutiny, and your spouse may fight for unfair terms. Be sure that you have all the professional guidance you need so you can protect yourself during the divorce process and create a clean break once the divorce finalizes.
Alternatives to ongoing payments
First, the bad news — if spousal support is already on the table, it is unlikely that you can avoid paying some sort of spousal support entirely. However, there may be ways to mitigate the amount and avoid paying it in installments.
Depending on the nature of your divorce, and your ability to access your resources, it is possible to negotiate a lump sum spousal support payment. In Michigan, this is known as “Alimony in gross.”
Paying alimony in one fell swoop means your pocketbook may take a more serious hit in the immediate future, but once you make it, you’re free and clear, legally and financially, from your spousal support obligations to your ex.
Also, in many cases, negotiating a lump sum support payment means that you can achieve more favorable terms. Just like the lottery, lump sum payouts are often smaller in spousal support.
Begin building your future today
The sooner you can get this all behind you, the sooner that you can begin building a new life on the other side of divorce. Of course, you don’t want your desire to get it over with lead to less desirable terms in the divorce settlement or sloppy execution that could lead to problems later on.
Seek out legal counsel who understands how to protect your rights and privileges while keeping the divorce professional, so you can focus on recovering from this disappointment and moving on to the next chapter.