Lump Sum Spousal Support Law and Legal Definition
Lump sum spousal support is a single spousal support payment which is made instead of being made on a periodic (usually monthly) basis over a lengthy period of time. The receiving spouse is paid a sum of money at one time. It is usually a one-time, final payment of spousal support, but may be ordered in addition to periodic payments in some cases. Lump sum spousal support is not taxed in the hands of the recipient nor is it tax deductible by the payor.
Legal Definition list
Related Legal Terms
- Ab Abusu Ad Usum Non Valet Consequentia
- Actuarial Cost Assumptions
- Administrative Support Services [Education]
- Advanced Life Support [ALS]
- Affidavit of Support
- Alias Summons
- Anticounterfeiting Consumer Protection Act
- Anticybersquatting Consumer Protection Act
- Application Support Centers
- Approved Summer of Service Position
