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Why does alimony often mean buying more life insurance?

On Behalf of | Jul 25, 2022 | Family Law And Divorce

When couples in Connecticut decide to divorce, they have to separate their financial lives, which can be quite difficult. The focus of property division proceedings will be a fair outcome, and a judge can use their own discretion when dividing the assets and financial obligations shared by divorcing spouses.

Still, it can be hard to achieve parity when spouses go their separate ways. Especially when one spouse has given up income and career opportunities for the benefit of the entire family, there may be a significant discrepancy between the personal circumstances of the two spouses and their ability to support themselves.

The Connecticut family courts can order alimony either until the dependent spouse re-enters the workforce or indefinitely. Why does an alimony order often come with an obligation to secure life insurance?

The party receiving alimony means security

The reason that the courts will order the person paying alimony to obtain life insurance is to provide a guarantee of financial stability for the spouse receiving the payments. They would be left in a very difficult position where they do not inherit from someone’s estate and also lose their primary financial support if their ex dies unexpectedly. Acquiring life insurance helps ensure that someone receiving alimony will still have access to crucial support even if their ex passes away unexpectedly.

Sometimes, alimony may come with other requirements, such as an obligation to continue providing health insurance to the dependent spouse. Taking stock of your financial circumstances can give you a better idea of what to expect when it comes to alimony in your upcoming Connecticut divorce.

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