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Legal Definitions - lump-sum alimony
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Definition of lump-sum alimony
Lump-sum alimony is a type of court-ordered allowance that one spouse pays to the other spouse for maintenance and support after they are divorced. It is a single and definite sum that is not subject tomodification. This means that the paying spouse must give the entire amount at once, instead of making periodic payments.
For example, if a couple gets divorced and the court orders the husband to pay $50,000 in lump-sum alimony to the wife, he must pay the entire amount at once. The wife cannot ask for more money later, and the husband cannot reduce the amount he owes.
This type of alimony is usually awarded when the court determines that the receiving spouse needs a large sum of money to support themselves after the divorce. It may be used to compensate for property division or to provide financial support for a specific period of time.
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Simple Definition
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