When alimony, also referred to as spousal support, is awarded it is an effort to try to level the playing field financially following a divorce. Situations in which it may be granted include when one spouse has stayed home to raise children, or in the alternative, makes significantly less than the other. The duration of the support will vary depending on the matters such as the age of the divorcing parties and the length of the marriage. While securing spousal support may be a big feat, it is not the only thing that those seeking it should be concerned about. It is also a good idea to look forward to make sure the payments are secure.
There are multiple situations in which the person paying the alimony may suddenly stop. In some cases they decide they no longer want to make the ordered payments. Other times they lose their job. It is also possible that alimony could be discontinued when a spouse is seriously injured or dies in an accident.
While in some cases it may be possible to go to court to enforce the agreement, other steps may be taken to ensure payment should these situations arise. For example, in the divorce settlement agreement, clauses can be included that make the paying spouse subject to money judgments on future arrearages. Likewise, a provision could also be included that memorializes a recorded security interest against property owned by the payer.
To avoid financial hardship should the spouse paying alimony die, a life insurance policy may be purchased. In the divorce settlement it is generally a good idea to include the requirement that the paying spouse maintain the policy and regularly provide proof of it.
A divorce is life changing for most. Because of this, in any matter involving a divorce it is a good idea to work with a lawyer who practices this area of law. Doing so could have an impact on the rest of your life.