New Law: Life Insurance Can Be Spousal Support In Virginia
As of July 1st Virginia judges have the power to order a support-paying spouse to maintain an existing life insurance policy for the spouse receiving support. As reported in Virginia Lawyers Weekly, this new statute fills a gap in the law. Previously the court had authority only to order the support-paying spouse to maintain an existing life insurance policy for a spouse’s benefit during the pendency of the divorce case or for the benefit of the parties’ children post-divorce. Gov. Terry McAuliffe’s concern about what would occur if the payor spouse remarries caused remarriage to be listed as a “material change in circumstances” that could allow the court to relieve the payor of this obligation. The court may also consider other changes in circumstances. Furthermore, if the insurance is a benefit of the payor’s employment and the employer terminates the life insurance benefit, the payor cannot be found in contempt for failing to maintain the policy.
For answers to your questions regarding spousal support, contact Maryse Allen at firstname.lastname@example.org or at (703) 565-5134.