In a recent decided alimony case captioned Shimer v. Corey, the Florida Court of Appeal held that the lower court made a mistake when it required the Husband to purchase a life insurance policy as part of the alimony award in this case. The Florida statutes permit a court to require a party to maintain a life insurance policy to secure alimony payments. In making a decision as to whether a payor should be required to purchase insurance to secure an alimony award the trial court should consider the following factors.
In awarding durational alimony, the Court should consider the disparity in the parties' incomes and the parties' proximity to retirement. In Packo v. Packo, the Florida Court of Appeal stated that: "The former husband, Richard G. Packo, appeals the final judgment that dissolved his marriage to the former wife, Kimberly S. Packo. We reverse and remand for the trial court to make the necessary valuations for the equitable distribution of marital assets and to reconsider the life insurance obligation imposed on the former husband or support such obligation with the requisite findings. We affirm the final judgment in all other respects. We review the trial court's final judgment dissolving the parties' marriage for an abuse of discretion. Vitalis v. Vitalis,799 So.2d 1127, 1130 (Fla. 5th DCA 2001). The trial court's discretion, however, is curtailed by certain statutory and judicially created requirements. E.g., id. at 1131 (reversing final judgment of dissolution for failure to make statutorily required findings).