F.S. 61.08(3) allows the court “to the extent necessary to protect an award of alimony,” to order any party ordered to pay alimony “to purchase or maintain a life insurance policy or a bond, or to otherwise secure such alimony award with any other assets which may be suitable for that purpose.”
Life insurance to secure alimony may not be ordered, however, unless specifically requested by a party.
Courts have summarized the law applicable to life insurance in divorce proceedings as follows: An order requiring a spouse to obtain a life insurance policy as security for an alimony award must be supported by record evidence, and the order must include findings as to the cost of insurance, the payor’s ability to afford the insurance and any special circumstances justifying the need for the policy.
The amount of the life insurance policy must be related to the extent of the obligation being secured.
Here at The Law Offices of Gary S. Dolgin, we will put our knowledge and 30 years of experience to work for you, whether you are seeking alimony or defending a claim against alimony.
Being Board Certified in Marital and Family Law as well as being a Supreme Court Certified Family Law Mediator sets Gary Dolgin apart. He will put his expertise to work for you and advocate for the best possible result in your alimony case.
To schedule an alimony consultation with Board Certified Expert in Marital and Family Law in Tampa, Gary S. Dolgin, please call (813) 999-2772, and it will be our pleasure to help you.
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Alimony Modification Lawyer Tampa – Gary S. Dolgin