Alimony Ins Policy

[Notmarried4sure]

What is the name of your state (only U.S. law)? FL
I have been paying alimony for 10 years and was required to have a $100k life ins policy to ensure unpaid alimony. It is current as they take it directly from my paycheck. The policy was a term and now it is over. To continue with another the price has doubled as I will be 65 this year. My options are: do nothing and see what happens 2. Substitute another policy I have on myself. I would like for this to end and hoping my alimony ends too when I plan to retire in a few years. Suggestions?

 

[LdiJ]

What is the name of your state (only U.S. law)? FL
I have been paying alimony for 10 years and was required to have a $100k life ins policy to ensure unpaid alimony. It is current as they take it directly from my paycheck. The policy was a term and now it is over. To continue with another the price has doubled as I will be 65 this year. My options are: do nothing and see what happens 2. Substitute another policy I have on myself. I would like for this to end and hoping my alimony ends too when I plan to retire in a few years. Suggestions?

You are ordered to maintain 100k of life insurance for the benefit of your ex. You are required to maintain that coverage one way or another.

 

[tuffbrk]

You may want to talk with an attorney to discuss the possibility of reducing the amount of the life insurance now that 10 years has passed. Although you may want to wait and see if the current bill in the legislature gets passed if you have the luxury of some time before the policy lapses.

 

[Notmarried4sure]

Insurance

I guess I will offer my other life ins policy as it is only for arrears and my fiancé is the beneficiary for both. Yes waiting for the Alimony Reform bill to pass. Been following it and praying Scott does not veto it this time and that it includes men who are already paying support. I would just like to live my golden years in peace without this parasite lurking over my shoulder as divorced longer than I was married. Thank you.

 

[LdiJ]

I guess I will offer my other life ins policy as it is only for arrears and my fiancé is the beneficiary for both. Yes waiting for the Alimony Reform bill to pass. Been following it and praying Scott does not veto it this time and that it includes men who are already paying support. I would just like to live my golden years in peace without this parasite lurking over my shoulder as divorced longer than I was married. Thank you.

You do realize that your fiancé being the beneficiary is a violation of the order? Your ex wife, the person to whom you are paying alimony is supposed to be the beneficiary of the 100k policy. Having someone else be the beneficiary is the same as not having the policy at all.

 

[Bali Hai]

You do realize that your fiancé being the beneficiary is a violation of the order? Your ex wife, the person to whom you are paying alimony is supposed to be the beneficiary of the 100k policy. Having someone else be the beneficiary is the same as not having the policy at all.

If the order doesn't specifically state who is to be the beneficiary, how can you assume the order is violated? If there are any arrearages upon OP's death, the ex-wife can sue his estate and collect provided she can prove there are arrearages.

 

[stealth2]

LDi's right - and a court could find you in contempt for making your current with the beneficiary of the original LI policy. And penalize you financially.

 

[LdiJ]

If the order doesn't specifically state who is to be the beneficiary, how can you assume the order is violated? If there are any arrearages upon OP's death, the ex-wife can sue his estate and collect provided she can prove there are arrearages.

She cannot sue his estate and actually collect anything if there is nothing in the estate. His current girlfriend would receive the money outside of his estate and no one could legally force her to give it back.

 

[Bali Hai]

She cannot sue his estate and actually collect anything if there is nothing in the estate. His current girlfriend would receive the money outside of his estate and no one could legally force her to give it back.

What do you mean give it back? If I read OP's post correctly, the life insurance policy is only there to pay arrearages, if any, and not to be a windfall for the ex-wife. And the order apparently doesn't specify who is to be the owner of the policy or who is to be named the beneficiary.

 

[tuffbrk]

If the insurance policy is merely in the event of arrears, and you haven't had any arrears, and the alimony funds are taken via garnishment - I would definitely file a motion requesting a reduction in the face amount of the policy. Especially in light of the cost and your age.

 

[Ohiogal]

What is the name of your state (only U.S. law)? FL
I have been paying alimony for 10 years and was required to have a $100k life ins policy to ensure unpaid alimony. It is current as they take it directly from my paycheck. The policy was a term and now it is over. To continue with another the price has doubled as I will be 65 this year. My options are: do nothing and see what happens 2. Substitute another policy I have on myself. I would like for this to end and hoping my alimony ends too when I plan to retire in a few years. Suggestions?

Look at:
Payton v. Payton, 109 So.3d 280, 38 Fla. L. Weekly D513 (Fla.App. 1 Dist. 2013)
Florida Court of Appeal, First District
March 6, 2013
109 So.3d 280
38 Fla. L. Weekly D513

Life Insurance Requirement

In the final judgment, the court ordered Mr. Payton to obtain and maintain a life insurance policy in the amount of $50,000 to secure his alimony obligation. See § 61.08(3), Fla. Stat. (2010) (authorizing the court to order the payor to purchase or maintain a life insurance policy to secure alimony). Mr. Payton correctly asserts that no evidence was adduced regarding the reasonable availability of life insurance, the cost thereof, or his ability to pay. Absent any competent, substantial evidence and factual findings to support the $50,000 life insurance obligation, we reverse this award and remand for the court to make the requisite findings. See Galstyan v. Galstyan, 85 So.3d 561, 565-66 (Fla. 4th DCA 2012); Norman v. Norman, 939 So.2d 240, 241 (Fla. 1st DCA 2006) (finding error as a matter of law in the trial court's ordering former husband to obtain two $125,000 life insurance policies to secure his alimony and child support obligations, absent specific findings concerning the availability and cost of the policies and the impact of the cost on the payor).

Also:

Zvida v. Zvida, 103 So.3d 1052, 38 Fla. L. Weekly D105 (Fla.App. 4 Dist. 2013)
Florida Court of Appeal, Fourth District
January 9, 2013
103 So.3d 1052
38 Fla. L. Weekly D105

We review for abuse of discretion that portion of the judgment mandating the purchase of insurance to secure alimony and child support. See Konsoulas v. Konsoulas, 904 So.2d 440, 445 (Fla. 4th DCA 2005). A trial court has the authority to order a party to obtain life insurance to secure the payment of alimony and child support. §§ 61.08(3), 61.13(1)(c), Fla. Stat. (2011). " [H]owever, the trial court must make specific evidentiary findings regarding the availability and cost of insurance, the obligor's ability to pay, and the special circumstances that warrant the requirement for security of the obligation." Foster v. Foster, 83 So.3d 747, 748 (Fla. 5th DCA 2011). " The failure to make the necessary findings" to support an order requiring the maintenance of life insurance to secure the payment of alimony or child support " constitutes reversible error." Id.

In the present case, the trial court did not make a specific finding of special circumstances. Additionally, the trial court did not make the required findings as to the availability and cost of insurance and the husband's ability to pay. Further, the trial court erred by naming the wife as the beneficiary of the life insurance policy securing the payment of child support. See Layeni v. Layeni, 843 So.2d 295, 300 (Fla. 5th DCA 2003). Accordingly, we reverse and remand for the trial court to make the requisite findings, including whether special circumstances are present, and if such special circumstances are present, for an evidentiary hearing on the availability, cost, and the husband's ability to pay any insurance required by the trial court. If all the above are met, and the trial court orders life insurance to secure child support, then the trial court should require that the children be designated as the beneficiaries of the life insurance policy purchased to secure the child support payment.

Fernandes v. Fernandes, 114 So.3d 972, 37 Fla. L. Weekly D931 (Fla.App. 5 Dist. 2012)
Florida Court of Appeal, Fifth District
April 20, 2012
114 So.3d 972
37 Fla. L. Weekly D931


File a motion for modification of the life insurance requirement.

 

[Bali Hai]

Look at:
Payton v. Payton, 109 So.3d 280, 38 Fla. L. Weekly D513 (Fla.App. 1 Dist. 2013)
Florida Court of Appeal, First District
March 6, 2013
109 So.3d 280
38 Fla. L. Weekly D513


Also:

Zvida v. Zvida, 103 So.3d 1052, 38 Fla. L. Weekly D105 (Fla.App. 4 Dist. 2013)
Florida Court of Appeal, Fourth District
January 9, 2013
103 So.3d 1052
38 Fla. L. Weekly D105




Fernandes v. Fernandes, 114 So.3d 972, 37 Fla. L. Weekly D931 (Fla.App. 5 Dist. 2012)
Florida Court of Appeal, Fifth District
April 20, 2012
114 So.3d 972
37 Fla. L. Weekly D931


File a motion for modification of the life insurance requirement.

File this, file that. In the meantime, WHEN are you lawyers going to give it a rest?

 

[LdiJ]

Look at:
Payton v. Payton, 109 So.3d 280, 38 Fla. L. Weekly D513 (Fla.App. 1 Dist. 2013)
Florida Court of Appeal, First District
March 6, 2013
109 So.3d 280
38 Fla. L. Weekly D513


Also:

Zvida v. Zvida, 103 So.3d 1052, 38 Fla. L. Weekly D105 (Fla.App. 4 Dist. 2013)
Florida Court of Appeal, Fourth District
January 9, 2013
103 So.3d 1052
38 Fla. L. Weekly D105




Fernandes v. Fernandes, 114 So.3d 972, 37 Fla. L. Weekly D931 (Fla.App. 5 Dist. 2012)
Florida Court of Appeal, Fifth District
April 20, 2012
114 So.3d 972
37 Fla. L. Weekly D931


File a motion for modification of the life insurance requirement.

I agree that filing a motion for modification would be appropriate. However, since the OP didn't appeal the original order, he still is required to maintain life insurance with the ex as the beneficiary until such time as a court orders differently. He cannot make someone else, who is not a party to the case, as the beneficiary because that violates the order.

 

[Notmarried4sure]

Ins

Thank you everyone. The order said in "arrears of any alimony" not that she would get the $100K in my death. She would get nothing as after I am dead as unbelievably alimony ends and you rest in peace. She already took me to court to amend about 4 years ago to change the beneficiary but the judge said it was for arrears only. But thanks for the court cases as I will ask to have it lowered due to my age. I am going to post another thread concerning something else.

 

[LdiJ]

Thank you everyone. The order said in "arrears of any alimony" not that she would get the $100K in my death. She would get nothing as after I am dead as unbelievably alimony ends and you rest in peace. She already took me to court to amend about 4 years ago to change the beneficiary but the judge said it was for arrears only. But thanks for the court cases as I will ask to have it lowered due to my age. I am going to post another thread concerning something else.

In that case, your estate needs to be the beneficiary of the policy rather than an individual. Again, any individual as beneficiary has no obligation to pay any arrears you might owe. Your estate would be obligated to pay off the arrears.