Maintain Control Over Insurance Policies
Most divorce decrees call for one of the parties to obtain a life insurance policy to insure the value of alimony payments, child support or some other financial need. The former spouse should be designated either the owner or irrevocable beneficiary of the policy.
If not, the ex-spouse who took out the policy can stop making payments and the other spouse would never know about it until the policy is needed and it no longer exists. This could be financially devastating. The owner or irrevocable beneficiary is notified of any outstanding issues with the policy, such as non-payment of the premium, and could therefore take action and prevent the policy from lapsing or being cancelled.
Useful Online Tools
Separation Agreement Software
Resources & Tools
DIVORCE AND RETIREMENT – The age of full entitlement for Social Security for most people is now 66 and older. If Social Security is a major part of a person’s retirement income, the hike in age may be a consideration when negotiating a divorce settlement.
Easily Connect With a Lawyer or Mediator
Have Divorce Professionals from Your Area Contact You!
Online Divorce Negotiation
So you and your spouse have a few issues to iron out before you can agree on your divorce? You are not alone, but you do not have to spend thousands on a lawyer to reach an agreement. With just a little participation and communication, you will be surprised how easy it is to resolve your disputes through our innovative Divorce Negotiation CenterTM. It's FREE. Give it a try.
Basic Principles of Law for Construing Separation Agreements
Established in 1996
© 1996 - 2021 Divorce Source, Inc. All Rights Reserved.