Support security is important in Michigan divorce or child custody cases where child support or alimony (spousal support) payments are awarded. The security provides protection in the event the person responsible for paying child support or alimony stops paying.
Support security in cases of death
When the person responsible for paying child support or alimony dies, the obligation to pay child support or alimony stops potentially placing a tremendous financial hardship on the person relying on the payments.
Responsible child support and alimony orders contain a provision for support security. In cases of death, support security is often provided with life insurance which provides that the person responsible for paying obtain or maintain the other party as an irrevocable beneficiary on a life insurance policy equal to the remaining obligation to pay support.
Support security in the form of life insurance provides a lump sum payment equal to the future support obligation.
Support security in cases of disability
Responsible child support and alimony orders contain a provision for support security. In cases of disability, support security is often provided with disability insurance, which can fund the child support and alimony payments.
Support security – refusal to pay
Security for the future payment of support can also be provided by placing a lien on a parties assets such as a marital home or business. This type of security should be included in the Judgment of Divorce or support order. If a party refuses to pay, the other party can enforce the lien and sell the home or business to satisfy the support obligations.
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By: Daniel Findling
About Findling Law:
I have been in practice for almost 20 years and practice exclusively in divorce and family law. My practice includes several attorneys who share the core value of practicing law to help people navigate change in their life without compromising principles. We have extensive experience in high socio-economic, high profile and high conflict cases which has nurtured a skill set applicable to all divorce and family law cases regardless of socio-economic status. We recognize that it is the application of the law that is most important aspect of practice. That is why we provide more free information on divorce and family law than any other Michigan law firm.