I have paid a retainer to a flooring contractor that I sub work from. This is to insure that any repairs or replacements will be paid for if I choose or unable to do so. This money is returned one year after the last job is completed for said contractor.

Not the problem.

I would like to know if there is a safe guard I can have put on the retainer so that if he was to die , move away , go out of business , not want to pay years or months later ?? And If I was to pass away if said monies would be paid to my children or estate.

Can I have (make) legally of course him put money in an escrow account of some kind ??

Thank You for your time on this matter!!

This would not be a labor law matter. An independent contractor is not considered an employee for labor law purposes. I'd suggest reposting your question to the General Legal Forum.