Alimony is often a highly contentious issue for divorcing spouses in Georgia, and for good reason. Also known as “spousal support,” alimony has the potential to cause serious financial ramifications for both spouses. If you wish to receive alimony, you might be concerned about whether this spousal support will be sufficient to cover your needs. If you are facing the possibility of paying alimony, you probably want to keep these costs at a minimum. But what are the different types of alimony in Georgia?
If you find yourself asking these questions, you probably need to get in touch with an experienced family law attorney in Georgia as soon as possible. Our legal professionals can listen carefully to your unique needs and requirements during a consultation. Although internet research can provide answers, a legal professional is required to provide personalized, targeted advice based on your specific situation. With the right legal assistance, you can strive for the best possible outcome in terms of your alimony.
Temporary and Permanent Alimony
Perhaps the most important distinction between the different types of alimony is whether it is permanent or temporary. These two categories are quite self-explanatory. Permanent alimony has no end date, while temporary alimony only lasts for a certain amount of time. You should know that permanent alimony is becoming less and less common across the United States, with Georgia included. Long-term alimony is much more common, and is typically awarded to spouses who have been in marriages for many decades.
Permanent alimony is most common when spouses are at an advanced age when they divorce. This is because these spouses may not live much longer, and so permanent alimony will not actually last for many years. Temporary alimony is more common, although the end date will depend on a number of factors, including the length of the marriage. For spouses who have only been married for a few years, their alimony will likely be over relatively quickly – or they may not be awarded alimony at all.
Periodic alimony is a subset of temporary alimony, although this type of alimony is specifically intended to “help spouses get back on their feet” after a divorce, giving them time to re-establish job skills, get new training, go back to college, and so on. Once the spouse becomes self-sufficient once again, the alimony will end.
Lump Sum and Periodic Alimony
Another distinction is the difference between lump-sum and periodic alimony. Lump-sum alimony is paid all at once, while periodic alimony occurs on a regular basis. Spouses may choose lump-sum alimony in order to “get it over with,” but this large transfer of funds may result in tax issues.
Enlist the Help of a Qualified Attorney Today
If you have been searching the Georgia area for a qualified, experienced family law attorney, look no further than Lankford & Moore Law. Over the years, we have helped numerous spouses pursue favorable outcomes in all aspects of their divorces, including alimony. Whether you are in line to receive or pay alimony, we can assist you as you strive for the best possible outcome. Book your consultation today to ensure your financial security after your marriage ends.