I obtained a divorce in 2005 in NC. Separation agreement states non-modifiable. I pay spousal support monthly; however, my situation has changed. I make less money and can’t afford the high monthly payments. I would like to make a lump sum payment out of my retirement account for the balance owed so I don’t have to worry about making the monthly payments until 2/2020 when my last payment is to be made. It was also ordered that I have a life insurance policy for $500,000 until I no longer have the obligation to pay support.
My ex has agreed to the lump sum payment however she either wants me to continue with the insurance policy or give her an extra $50,000. I am getting remarried shortly so naturally I want the life insurance policy I now have at the job I just started to go my fiancé if I died. If I pay off my obligation for spousal support I will take a hit on taxes which I’m OK with get it done and over with. To get a $500,000 life insurance policy it would cost me over $1,000 per month - which I can’t afford. Plus I don’t believe she deserves a life insurance policy if I have paid off my obligation. I explained to her the life insurance policy was to make sure she gets her spousal support if I died but not to go on forever. Between the ED and SS she has received almost a million dollars but still wants more.
I don’t live in NC since I had to relocate for my new job. She doesn’t live in North Carolina. Since it’s a separation agreement that was not tied to the divorce, it is considered a contract; therefore, the lawsuit would have to be for breach of contract. If she does this for nonpayment and no life insurance policy, does she have the file in NC? Or can she file in her state?
Can I file for modification - only changing to one lump sum so she gets her money and I don’t need to have a life insurance policy with her as beneficiary? If so, do I hire a NC Law Firm such as yours or hire one in the state which I live?
Also, there is a new non-molestation clause in the separation agreement (she can’t interfere in my life). She has tried to get my fiancé to break up with me and even had her sister get involved. And tried to get my adult son to say something to my fiancé on her behalf since they have a good relationship. This was while she was paying the spousal support for me. Does that constitute as a breach of the molestation clause?
Thank you for your help.