Life insurance is one of the financial assets you must disclose during your divorce as part of the equitable distribution process. But the court can treat your policy any number of ways, depending on your family’s overall circumstances:
There are many strategies a party to divorce can employ regarding a life insurance policy, including a restraining order preventing the policy owner from changing the beneficiary. This must be more specific than an order preventing a party from transferring property, because a change in beneficiary is not technically a change in ownership. This order can stay in place until the divorce is finalized and then be incorporated into the divorce decree. However, if the court distributes the policy as property to the policyholder and does not specifically rule on beneficiary rights, the other spouse generally does not have a right to remain as beneficiary. The Effect of Facebook on DivorceA new study presents facts that seem to underpin the idea that a couple splitting up can influence their close friends toward divorce. The new study looked at data from the Framingham Heart Study, a long-term longitudinal study that follows more than 5,000 residents of Framingham, Massachusetts. To examine factors of cardiovascular health, the original study group has been followed since 1948. Many spouses and children of the original cohort are enrolled in the study, providing substantial data for researchers studying the effects of social networks. Findings of the study include:
Because of the homogeneity of the background of participants in the study, the results cannot be considered applicable throughout the United States. For everyone, though, the study does make an important comment that “Divorce should be understood as a collective phenomenon that extends beyond those directly affected.” Free Consultation with Divorce Lawyer in UtahIf you have a question about divorce law or if you need to start or defend against a divorce case in Utah call Ascent Law at (801) 676-5506. We will fight for you.
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Bank Account Beneficiary Rules When Is It Right to Seek Full Custody? via Michael Anderson https://www.ascentlawfirm.com/insurance-during-divorce/
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