L
larry3
Guest
My ex-wife recently took me back to court to fight a previously agreed upon imputed income. What she got instead was a slight lowering of imputed income for this year, so that she can finish college. What she also got was an order that spousal support to be set to $0, non-modifiable, beginning next year, when she is expected to get a job and take care of herself.
There is a big difference however, between spousal support being set to $0, and spousal support termination in a long-term marriage. This should be of interest to anyone with support step-downs stipulated in the future. By law, if my wife were to suffer a catastrophic accident, which was to reduce or remove her wage earning capability, I would be responsible for her "standard of living" at the time of divorce, probably for the rest of her life.
I had a clause added to the stipulation that I may, at my discretion, provide any disability or other wage replacing insurance for my ex-wife, and that she would submit to any necessary tests. The problem is, I can not find an insurance policy that will protect the wage earning capability of a non-working person. In other words, I can't find a disability policy for an unemployed person. She isn’t supposed to start working until next year, and she may decide not to work at all. More importantly, there is a history of fabricated disability in her family. I did find one accident insurance policy that might cover some issues that I am looking into, but so far, this is looking bleak.
When I raised the insurance issue in court, the attorneys and judge all looked surprised and astonished that such a huge financial risk had never been broached before. I guess I am the first one that ever brought up insurance as a way to protect myself. Actually, I didn’t understand the risk until that day.
Does anyone know of an insurance company/policy that can help me (and others) with this situation? After weeks of investigating, I have feel that I have exhausted all of my other resources.
There is a big difference however, between spousal support being set to $0, and spousal support termination in a long-term marriage. This should be of interest to anyone with support step-downs stipulated in the future. By law, if my wife were to suffer a catastrophic accident, which was to reduce or remove her wage earning capability, I would be responsible for her "standard of living" at the time of divorce, probably for the rest of her life.
I had a clause added to the stipulation that I may, at my discretion, provide any disability or other wage replacing insurance for my ex-wife, and that she would submit to any necessary tests. The problem is, I can not find an insurance policy that will protect the wage earning capability of a non-working person. In other words, I can't find a disability policy for an unemployed person. She isn’t supposed to start working until next year, and she may decide not to work at all. More importantly, there is a history of fabricated disability in her family. I did find one accident insurance policy that might cover some issues that I am looking into, but so far, this is looking bleak.
When I raised the insurance issue in court, the attorneys and judge all looked surprised and astonished that such a huge financial risk had never been broached before. I guess I am the first one that ever brought up insurance as a way to protect myself. Actually, I didn’t understand the risk until that day.
Does anyone know of an insurance company/policy that can help me (and others) with this situation? After weeks of investigating, I have feel that I have exhausted all of my other resources.