What is an alimony buyout?
A spousal support buyout is when the payor pays the spousal support obligation in one lump sum rather than paying it out over a period of time. It can be done with a cash payment from one party to the other, or it could be done through the division of marital property. In other words, one party agrees to give up a portion of their share of the marital assets instead of paying spousal support.
Why might a buyout of alimony be right for you?
Clients consider a buyout of their alimony obligations for a variety of reasons. In my practice, it is most commonly used when there is not...