- 18 -
that the guaranteed payments were intended to, and did, terminate
on the death of decedent.
Alternatively, respondent argues that even if the guaranty
obligation were not part of the division of marital property, the
value of the payments required under the guaranty obligation is
still includable in decedent’s gross estate because the
guaranteed payments were in the form of lump-sum alimony.
Florida recognizes three types of alimony: (1) Lump-sum alimony;
(2) periodic alimony;13 and (3) rehabilitative alimony. See Fla.
Stat. Ann. sec. 61.08(1) (West 1997).14 Under Florida law, lump-
sum alimony is essentially the payment of a definite sum (which
may be paid in installments). See Mann v. Commissioner, 74 T.C.
1249, 1260 (1980); see also Canakaris v. Canakaris, 382 So.2d
1197, 1201 (Fla. 1980). Lump-sum alimony creates a vested right
which survives death. See Mann v. Commissioner, supra at 1260;
13Permanent periodic alimony is most commonly used to
provide support, although its use may be appropriate in limited
circumstances to balance inequities which may result from the
allocation of income-generating property acquired during the
marriage. See Canakaris v. Canakaris, 382 So.2d 1197, 1202 (Fla.
1980). As a general rule, permanent periodic alimony terminates
on the death of either spouse or the remarriage of the receiving
spouse. See id.
14Fla. Stat. Ann. sec. 61.08(1) (West 1997) authorizes the
trial judge to “grant alimony to either party, which alimony may
be rehabilitative or permanent in nature. In any award of
alimony, the court may order periodic payments or payments in
lump sum or both.” Canakaris v. Canakaris, supra at 1200.
Page: Previous 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 NextLast modified: May 25, 2011