If you’re going to be relying on spousal support to cover your cash flow needs, you need to consider how to protect it in case your ex-spouse dies or becomes disabled. For example, what if your ex-spouse dies a year or two after your divorce has been finalized, but you were counting on support of $30,000 per year for the next six years in order to pay the mortgage or rent, put food on the table, or go back to school so you can qualify for a better job? Where is the money to meet those needs going to come from if your spousal support ends abruptly because your ex-spouse has an accident or gets sick? Many divorce agreements routinely require insurance to protect spousal support payments against death, but almost none include disability protection. Here’s what you need to know about disability insurance to protect your spousal support. Diana Shepherd (CDFA™) is the Editorial Director and Co-Founder of Divorce Magazine. An award-winning editor and published author, she is a nationally-recognized expert on divorce, remarriage, finance, and stepfamily issues. To learn more about how spousal support works, see How Spousal Support (Alimony) Works. For information about how taxes could affect spousal support payments, see Spousal Support (Alimony) and Taxes.
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