Have You Considered the impact of a Divorce on Insurance - Louisville

Have You Considered the impact of a Divorce on Insurance?

Are you contemplating the end of your marriage in Louisville? Have you considered the impact of a divorce on insurance?

Insurance is often an issue in a divorce case which involves children, child support or maintenance as well as serious illness. It is important to make sure you have considered the impact of a divorce on insurance policies in place and how these protections will be affected during and after the divorce. In many cases, insurance becomes more important than ever during a divorce negotiation or mediation.

In cases where one of the spouses faces a serious medical issue health insurance is especially important. It may be necessary to consider a legal separation in order to preserve existing health insurance coverage for a seriously ill former spouse.

Health insurance is also an important part of the equation when determining child support and maintenance. What is the impact of a divorce on insurance for the health and medical needs of the child(ren)? If the payor of maintenance or child support is also providing health insurance for the children it should be reflected as part of the support calculations/negotiations.

Life insurance can also become a critical issue during a divorce. For example, if one spouse is ordered or agrees to pay child support they may have a duty to maintain a life insurance policy which is sufficient to cover the value of expected future child support payments in the event of the payor’s death. The amount of the life insurance policy should reflect the value of a lump sum payment as it applies to support obligations through a child’s 18th birthday or until they would normally graduate from high school.

Have you considered the impact of a divorce on insurance? This is one of the issues many people miss in do-it-yourself divorces. This is why it is so important to work with the experienced and proven divorce and family law attorneys at Dodd & Dodd.

We invite you to review the strong recommendations of our former clients and contact us or call 502-584-1108 to schedule an appointment with one of our experienced divorce and family law attorneys.