Negotiating a support payment with your ex-spouse does not guarantee that the arrangement will hold up. Some paying spouses stop making payments and force the recipient spouse to go to court to enforce the agreement. But even if you and your former spouse are on the same page with spousal support, you still might want to explore options to prevent interruption of your payments.
Because of disability or death, some paying spouses are not longer able to pay further support. Fortunately, as Forbes explains, people going through a divorce have ways to help them continue to receive payments in such events.
While working out your support agreement, consider having your ex-spouse take out a life insurance policy. If your former spouse dies, the policy will replace the support payments. Keep in mind that some people are not insurable, so this option might not be feasible in your case. If so, you might ask your attorney about other options that accomplish the same goal as life insurance.
Also consider what could happen if your ex becomes disabled. Your former spouse might go to court and ask for a reduction in payments, which the court might grant. Your ex might also suffer a disability severe enough to stop your ex from earning any kind of a living, which could make it impossible to receive any support. However, you might avoid a reduction or a cessation of payments if your divorce agreement requires your former spouse to get disability insurance.
An annuity contract is another form of insurance your ex-spouse could purchase. By using an annuity, your former spouse can contract with an insurance company to fund your spousal payments to the company. The insurer will then pay the amounts to you. This option may help ensure that you receive your payments without any delays.