Alimony in Mississippi Cont'd
Continued from Alimony
Although permanent alimony awards are becoming rarer as courts and attorneys alike strive to eliminate sources of conflict for individuals once married, it is more common in cases where a long term marriage (20+ years) is combined with a large disparity in income between the parties, and inability of one spouse to re–enter the workplace and become self–supporting. If circumstances change, permanent alimony awards can be modified to increase or decrease the amount of the award or even eliminate the award all together. Jackson alimony attorney M. Devin Whitt can help you seek a modification when appropriate.
On the other hand, lump sum alimony is a fixed, certain sum of money that vests at the time a final judgment or order is entered. In Mississippi, lump sum alimony is often used to create an equitable property division where one or more of the assets to be distributed are not liquid (i.e. a house or a business). Contrary to permanent alimony, lump sum alimony cannot be modified, survives the death of the payor as an obligation of the estate, does not terminate at the payee's death or remarriage, and is not taxable to the recipient or deductible for the payor.
Rehabilitative alimony is another type of alimony courts are using to create equity. Rehabilitative alimony is similar to permanent alimony, but has a fixed ending date and is awarded to provide transitional support. Specifically, rehabilitative alimony provides a spouse direct or indirect (third party) payments for a short to medium duration of time while they are taking the necessary steps to re–enter the workforce and become self–supporting. Like permanent alimony, rehabilitative alimony may be modified based on a change in circumstances and terminates upon the death of the payor or payee.
Reimbursement is a relatively new form of alimony created by the Mississippi Supreme Court in 1999. Reimbursement alimony is awarded to a spouse who provided for and/or supported the other spouse through school or whose contribution cannot be recognized through normal property division. Reimbursement alimony is similar to lump sum alimony, because payments vest at the award, are nonmodifiable and do not terminate at the death or remarriage of the parties. Presumably, reimbursement alimony has similar characteristics to lump sum alimony in that it should vest completely at the time of judgment, be nonmodificable, and should not terminate at the death of either party or the remarriage of the recipient.
Finally, hybrid forms of alimony are quickly becoming the most used type of alimony in Mississippi. Hybrid alimony uses a blending or combination of the characteristics of different types of alimony to accomplish certain goals or objectives of the parties. Jackson alimony lawyer M. Devin Whitt can help you understand whether hybrid alimony is right for you.