What do you WISH YOU HAD ASKED FOR in A DIVORCE SETTLEMENT?
charlie girl asked:
In addition to the alimony, half the assest, I want to ask for a life insurance policy payable to me.
In addition to the alimony, half the assest, I want to ask for a life insurance policy payable to me.
Any ideas on anything else?
Save Your Relationship
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If you don’t have kids, it’s not reasonable – there’s no insurable interest. If you HAVE kids, it’s reasonable, but MAKE SURE YOU ARE THE POLICY OWNER. That means, YOU pay the premiums, and YOU decide who the beneficiary is.
Whoever pays the premiums, gets to decide who gets the money, and you can change your mind ANY TIME UNTIL THE DAY YOU DIE.
For what it’s worth, the life insurance is written into my divorce settlement/child custody agreement, but my ex isn’t insurable from an insurance company point of view, at a premium either of us could afford to pay. So it says it on paper, but there isn’t any life insurance (on his part) in place. And MINE is set up to pay a trust, not our son directly, so the ex can’t get his hands on the money.