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Alimony in Florida – Paying Spouse to Purchase Life Insurance
In an alimony case, a trial court may require a paying spouse to maintain life insurance under certain circumstances. In order for a court to require a paying spouse to maintain life insurance, the trial court must find that the insurance is available, it must state the cost of the policy, and it must determine the that paying spouse has the ability to pay for the cost of the insurance. The amount of the insurance required must be commensurate with the amount of the support obligation. Finally, in order to require a paying spouse to maintain life insurance to secure an alimony obligation, there must be “special circumstances” that justify this requirement. These special circumstances include situations where the recipient spouse would be left in severe financial condition after the death of the paying spouse due to his or her poor health, age, or lack of employment potential.
Additional alimony special circumstances include the paying spouse’s poor health, where minors are living at home, where the recipient spouse has a limited capacity to earn income, and where the paying spouse has failed to live up to his or her support obligations. Finally, a paying spouse can bind him or herself to purchase life insurance by agreeing to purchase life insurance on the record.
To speak with a divorce attorney in Palm Beach Gardens, Florida, contact Matthew Lane & Associates, P.A. at (561) 363-3400.
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