Lump Sum Cash Award
A lump sum cash award is often used as a settlement during a divorce in order to compensate for the financial inequities between the partners. A lump sum cash award is a fixed, onetime payment to one spouse after the divorce is finalized.
In some dissolution, lump sum cash award can sometimes be construed as property division, which can complicate certain forms of tax status. It is important to consult an attorney during these difficult times, for even though the court is ostensibly neutral, you should still have someone knowledgeable and experienced in specific matters to protect your best interests.
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