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Alimony in lieu of property

If you have recently filed for divorce, your attorney has likely asked you to consider different things like property division and alimony. For anyone in your situation, dividing a lifetime of property and requesting supportive funds from your ex can be an overwhelming and daunting task. Faced with the loss of a marriage and spouse, it is not uncommon to just want to cut ties and walk away. If you are one of those people, but your financial situation is preventing you from starting over, consider requesting alimony in lieu of marital property.

While most people think alimony is a monthly payment that mimics child support, there are in fact a number of ways you can receive it. If beginning a second chapter in your life while surrounded with belongings from the first chapter doesn't sound too appealing to you, you may be able to forego the division of property and request a lump sum alimony payment. This settlement, of sorts, is considered alimony in gross, and allows you to start over with a clean, new slate.

While there are many different types of alimony, lump sum alimony is just one and is usually reserved for those that are not requesting valuable items or property acquired during the marriage. Keep in mind that even if you want your share of marital property, you may still be entitled to alimony. A family court judge will consider your request and may award alimony based on factors like the length of the marriage, earning potential of each spouse, current incomes and age.

If you are considering divorce and have concerns about property division and alimony, speaking to a skilled divorce attorney can help. With an experienced advocate by your side you will know where you stand in your divorce and what you stand to gain.

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Goddard & Malmquist

Goddard & Malmquist
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Barrington, IL 60010

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