Life Insurance and Divorce
As you go through the divorce process, more and more logistical matters may come to the surface. One issue that may come up in your case is long-term security provided by a life insurance policy. Whether or not you and your spouse have children, life insurance may be an important issue in your divorce.
Life Insurance Considerations
In the midst of a divorce, it can be hard to focus on preparing for future worst-case scenarios. However, speaking with a divorce lawyer about life insurance can help you and your spouse come to an agreement that will work for all parties. Some things you may wish to consider include the following:
- If you are in a position to receive spousal support, you may be able to require your ex to carry life insurance on him or herself, with you as the beneficiary.
- What will happen to your children if your ex passes away? If that ex is paying child support, they should also carry life insurance on themselves so that should they pass away while their children are still minors, there will be some income to aid you in continuing to care for your kids.
- If you must carry life insurance on yourself for an ex or your children, shop around. Consider different payment options.
- If you are required to carry life insurance on yourself for your children but they will be 18 within 10 years, term life insurance is considered the preferable choice by most.
There are many other details to take into consideration, and your divorce lawyer should be able to answer your questions on the matter.
Contact Us
If you are going through a divorce, you may be wondering about how this will affect your life insurance policy. Talking with a qualified and dedicated divorce lawyer can help with this matter and many others. Contact the Oceanside divorce lawyers of Fischer & Van Thiel, LLP, at 760-722-7646 today to speak with someone about your situation.