InSight

Divorce Playbook: Understanding Emotional Attachments to Assets

Financial Planning Dentist

Often overlooked during the divorce, and somewhat difficult to remedy after the divorce is using insurance to back up any financial agreements you come to. Alimony, child support, college tuition, and property settlements are all insurable interests you have in your ex-spouse after a divorce. It’s important to confirm in the divorce settlement some insurance recourse is covered in the event of death and disability. Life and disability insurance policies can guarantee that these payments will continue despite an unexpected loss or injury.

If you are mid-divorce these policies can also be made a part of the agreement and you can request verification for these policies being in force. These policies can help you rest assured that the payments will be made regardless. 

If you are the party required to make these payments, there are several options available that will make varying financial sense. If your child is young, or the timeline for your payments is long you may consider whole life insurance as the cash value will have retirement strategies should the policy go unused.

More related articles:

Articles
Kevin Taylor

The Rules of Self-Directed IRAs

At InSight, our clients know that when you understand the rules you make better decisions. Our InSight-Full® plan is about marrying the goals that you

Read More »
Articles
Kevin Taylor

What is the CIMA® Designation?

Mandatory vs. Voluntary designations? Several of the designations involved in our industry are often associated with being a mark of distinction. Series exams, for example,

Read More »

Pin It on Pinterest