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 to secure the alimony obligation.  In order for a trial court to require a paying spouse to maintain life insurance, the court must find that the insurance is available, it must state the cost of the policy, and it must determine that the paying spouse has the ability to pay for the insurance.  Finally, in order to require a paying spouse to maintain life insurance to secure an alimony obligation, there must be “special circumstances” that justify the award.  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 earning capacity.  Additional alimony special circumstances include a situation where minors are living at home or 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.

The amount of the insurance required must be commensurate with the amount of the support obligation, and the term of the policy cannot extend beyond the term of the alimony obligation. The obligation to pay life insurance premiums should be taken into account by the trial court in determining the amount of the alimony award. An obligor cannot be ordered to purchase life insurance that contains a savings component. 

Protecting Your Assets During High-Value Divorce Proceedings

When alimony and life insurance requirements come into play, the stakes are often higher for individuals with substantial assets, business interests, or executive compensation packages. At the Lane Law Firm we develop focused legal strategies to manage risk and protect your wealth.

In cases where a life insurance policy is required, we help determine the cost, evaluate available coverage, and present clear arguments about the ability to pay for the policy.

Every situation is different. You can trust us to develop customized legal strategies that support your goals and keep you informed at every step of the way.

Call Now to Discuss Your Legal Options

You deserve a legal team that understands the financial complexity behind alimony and life insurance decisions. Attorney Matthew Lane brings over 35 years of litigation experience to the table, with a strong background in handling the unique challenges associated with high-income divorce cases. No matter if you're being asked to maintain life insurance or if you believe it should be required in your case, we can help you understand your rights and obligations under Florida law.

Don’t risk your financial security or leave your future to chance. Our firm offers premium legal services personalized to clients who expect a high level of precision and care.

To speak with a divorce attorney in Palm Beach County, contact the Lane Law Firm, P.A. at (561) 363-3400.