What you want with respect to alimony is not always a straightforward answer.
One would think that if you are receiving it you want the most $ you can get and it you are paying then you want to pay the least $ you can.
- If you are receiving alimony you need to decide what you want, (other than more cash…)
- If you have been married for a long time lifetime alimony may be likely but what does that mean? If you are both 60 then it may only be until retirement or for another few years. Would a lump sum be better if alimony is going to stop or be reduced in a few years?
- Are you likely to re-marry? Again a lump sum would be a better strategy.
- Would you like to go back to school? Would a few years of higher alimony, to support you during school, and then have it drop when you get a job be a better alternative? If the reduction is structured to be economic for your spouse it might be doable.
- Do you have young children who need a parent at home? Is your income potential low so that covering child care is not feasible? Alimony & child support would be geared to staying home until the children are in school full time and then adjust.
- Are there are sufficient funds if you took a lump sum settlement so that you can buy a home and life mortgage free? Can you earn enough to support yourself in those circumstances?
Be a boy/girl scout and be prepared!!