Legal Question in Family Law in Michigan
Paying alimony until death
As the plaintiff in my divorce, I am to recieve child support and alimony. After the the last child turns 18, the child support payment gets added to the alimony payment which then is to be paid until my death. I and the defendant have owned a corporation for the last 20 years. The agreement in the divorce judgement when signed states that the defendant will have full and complete ownership of this corportation while I will recieve alimony checks for the rest of my life. How do I ensure these payments if the defendant dies? Is there a way to write the continuation of these payments in the divorce judgement? I had considered having the corporation cut me checks rather than alimony. Would that be a more advantageous way to ensure income for the rest of my life?
Thank you for any advice you can give me?
2 Answers from Attorneys
Re: Paying alimony until death
With the type of provisions that you are having in your judgment, I assume that you have very competent counsel. If not, it is amazing and you should get a good lawyer immediately! As far as your question, the health of the company is undoubtedly tied to its management by your future ex. Upon his death, the company may be worthless. If that is not true, you can either have your payments secured by promissory notes issued by the corporation or by a life insurance policy on your ex with you as the beneficiary. William S. Stern 248-353-9400
Re: Paying alimony until death
I would have to see the exact language and the context of the divorce judgment in order to give you an informed opinion. Who drafted judgment? For more info, please contact my office at (248)851-3171.
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