HOW TO USE LIFE INSURANCE TO GUARANTEE ALIMONY

As an alternative to an insurance policy, the parties might agree that the payor will post a bond or that the payor will guarantee to leave the recipient a certain amount of money by will or by trust in order to ensure continued support. Another option is to have the payor sign a limited irrevocable assignment of income from his or her pension plan to guarantee the alimony payment. Such a provision would require that alimony payments be deducted from the payor’s pension plan in the event that the payor did not make payments directly. 

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