Should I ask for BC Lump Sum Spousal Support or Periodic Spousal Support?
Women and men nowadays tend to be more equal as far as earning capacity are concerned. Still, though, many women stay at home and raise children, thereby giving up their education and career dreams. Upon separation, they rightly require spousal support but that is the last thing their spouse wants to give them in bitter divorce battles. Especially when the woman had an affair with someone else and wants her husband to pay her spousal support for many, many years (and vice versa). So what is the solution if the man/woman wants a clean break and doesn’t want to pay BC spousal support forever?
BC Lump Sum Spousal Support vs. Periodic Spousal Support
The more I do family law, the more I realize when it’s over it’s over and both spouses just want to move on. Periodic spousal support means the man/woman will have to pay a monthly fee from his/her salary to their ex-spouse and for a very long time. Psychologically, this is difficult and bitter. No one wants to be connected to someone else for the rest of their lives if they don’t want anything to do with each other!
For this reason, I often suggest that the payor offers BC lump sum spousal support to the payee. What does this mean?
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BC Lump Sum Spousal Support
This means the payor pays a one-time large sum of money to the payee, and the payee will never claim future spousal support against them. If you have the money, I think this is the best way to deal with spousal support: the payor never has to worry about making enough money to pay monthly spousal support and the payee can take a large chunk of money and invest/spend it any way he/she wishes. This provides a clean break for both spouses and makes sure they never have to be financially connected to one another.
If the payor does not have a big BC lump sum spousal support to pay or the payee wants to get monthly spouse support, then this is called BC periodic spousal support.
BC Periodic Spousal Support
Periodic spousal support depends on
- The amount of income each of the spouses earn; and
- How long they cohabited or were married.
Usually, if your marriage is for a short duration or less than 10 years, the spousal support duration will be shorter and the payments will be in the low range of the Spousal Support Advisory Guidelines.
If your marriage is a long one or more than 15 years, and if you had children, the spousal support duration will be longer and the payments will be in the high range of the Spousal Support Advisory Guidelines.
If you would like to calculate how much monthly spousal support you may owe, please go here.
You will not know exactly how much BC spousal support you will receive or for how long unless you talk to a BC Family Lawyer who will have to consider all aspects of your marriage or cohabitation and give you proper legal advice.
For more information or to set up an INITIAL CONSULTATION, please contact us at 604-974-9529 or email info@ylaw.ca.