There are two main and different considerations in regard to life insurance and divorce proceedings. First, if the parties have minor children and/or a party is obligated to pay child support, maintenance (also known as alimony) or property payments then the court may order or the marital settlement agreement will likely include language that requires a party to obtain or maintain life insurance for the duration of the financial obligation to the other party. While this may seem like an unfair obligation, the courts have determined that the burden placed on the party who has a duty to make the payment far outweighs the possibility of the other party or family members to seek state or federal government aid after the death of a party that still has an existing obligation.
Second, if a party has no financial obligations to the other party after a divorce, then each party must also keep in mind that obtaining a divorce in Illinois does not automatically remove the former spouse as a beneficiary to a policy and each life insurance policy should be awarded to one party. It is important to ensure that settlement terms are clear as to which party is being awarded which life insurance policy, as changes (such as beneficiary) will have to be made after the case is finalized. Oftentimes, there are also cash values or monthly payments that must be made to ensure continuing coverage or payout, so clear guidance from a family law attorney on the life insurance policy aspect of a divorce is important since the long-term future ramifications can be significant. Contact the knowledgeable attorneys at WARD FAMILY LAW, LLC, to learn more about life insurance in divorce.
Love and marriage. We needed a prenup because our families made us do one just to be safe. The entire thing was smooth so we could focus on our wedding and not be too crazy with the prenup. The agreement was drafted and reviewed by each of our attorneys, we signed and we were married. Woo Hoo. Thanks again, Ward Family Law.
10/10 is my rating for Ward Family Law. Jennifer and Emily went above and beyond in my divorce case. I cannot say more praise.
I lost my job but still had to pay the child support. I was scrambling. I talked to Jennifer Ward and she explained the process and the need to quickly file to put the court on notice that my child support needed to change. She saved me so much money in the long run while I looked for a new job so that I could start paying to help my kids again. Losing my job was not in the plan but at least my kids are on track.
I knew that since I made more money I would be the one that had to pay alimony. I was not happy about it. I also thought I would have to give everything we had too - the house, the car, the dog, all of my retirement. Wow, was I wrong. Ward Family Law negotiated the best deal I could have hoped for. The divorce is over and I was able to move on instead of completely having to start over.
My boyfriend and I lived together for 10 years and had 3 kids. I did not realize that him being on the birth certificate was not enough. What? Yep! In Illinois we needed a VAP or a court ordered DNA to make him the Father. Ward Family Law took care of it all and then set up parenting time and child support after our break up. Big thanks to Jennifer.
The last of my kids was graduating high school and I knew it was my job to file with the court to stop child support payments and I also knew that if I wanted my ex to help with college costs then I had to file something with the court for that too. Ward Family Law was a one-stop shop. They drafted and filed everything I needed and saved me a fortune in the long run. So, run, don't walk to Jennifer and her team to get it done.
It was quick and easy and those are two words I did not think I would say about my divorce. We are still friendly too. We just were not meant to be together anymore. Ward Family Law made sure to draft the documents with the terms that we agreed on which kept us on good terms and there was no fighting. I cannot recommend them enough if you are looking for a clean, honest, quick, easy divorce.
We were set to get married in a little over a month and my family insisted on a premarital agreement. On my very first call Jennifer explained the entire process and timing. They hit the ground running and got everything completed and signed well before our wedding date. That made everything much less stressful so I thank them so much for their professionalism and timeliness.
Our plan was to get married after the baby was born and then a year later we still were not married and we were going our separate ways. I had no idea that the birth certificate alone did not make me the legal parent of our baby in Illinois. Luckily, Ward Family Law handles these cases and established paternity through a DNA test and submitted the results to the court. We now have an agreement on time with our kids and support too.
Cannot recommend Jennifer, Emily and the entire team at Ward Family Law enough. If you have a divorce, custody or other family law matter then stop looking. They will have your back until the end. While my case was messy, they kept it on track and brought it through to the end. It was the best that I could have hoped for.
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