Life Insurance Policies and Divorce
For many people going through divorce, it can be hard to focus on some of the logistical matters that must be readjusted in one’s life. Sometimes the number of business matters to be handled in separating two formerly intertwined lives can feel overwhelming. Life insurance policies are an example of this type of matter. Although it can be frustrating to take care of so many details, life insurance can make a big difference in your future or the future of your children.
Life Insurance Considerations
It can be hard to focus on future worst-case scenarios when you are in the middle of a divorce. However, life insurance can make a huge difference for you or your children should something happen to you or your ex. However, you need not deal with the stress of so many logistical decisions on your own. An experienced divorce lawyer can assist you in navigating these decisions. Some things your lawyer may want you to consider include the following:
- Are you receiving spousal support? If so, you may be able to require your ex to carry a life insurance policy on him or herself that names you as the beneficiary, so that you will continue to be supported in the event of his or her death.
- Are you receiving child support? If so, you may be able to require your ex to carry a life insurance policy on him or herself naming your children as beneficiaries.
- If you are being asked by your ex to carry life insurance that will benefit them or your children, be sure to consult with a lawyer to make sure that the requirements of the policy are set up in a manner that is fair for you.
- Review old policies and change them or at least update your personal information.
Life insurance is just one small issue that a divorce lawyer can help you sort through as you make your way through the divorce process.
If you are divorcing or considering divorce, you will likely need the support of a competent and caring divorce attorney to help you sort through issues like life insurance policies. Contact the Denton divorce attorneys of Alexander & Associates today at 972-420-6560 to learn more.
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