Permanent alimony is awarded upon the finalization of divorce proceedings. Permanent alimony occurs when the marriage is permanently dissolved. Depending on the nature of the divorce agreement, there are many forms this can take.
Some of these forms include:
- Lump sum payment
- Payments for services
- Weekly or monthly regular payments
- Annuity awards paid annually
- Payments in trust
Even though they are called “permanent alimony,” it does not last forever in most cases. There is no specific time limit, but the courts can revisit the award upon the change of one spouse’s circumstances and make adjustments or end it as they feel the situation warrants.
Divorce is always a tough situation and best handled with proper legal representation. An experienced divorce attorney can ensure that you get the compensation you deserve. If you are thinking about hiring a divorce attorney, call The Allen Law Firm today.