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Posts tagged "Life Insurance"

The role of life insurance after a divorce

For Rhode Island residents who are going through a divorce, there are plenty of aspects of life that they will need to adjust to after the legal process is complete. No matter how long the parties were married, post-divorce life can be stressful for many people. However, it is important to take the right steps to adjust, especially when it comes to finances.

Automatic orders in Rhode Island divorce proceedings


When a spouse in Rhode Island files for divorce and serves the petition and summons upon the other spouse, certain orders automatically go into effect. Per Rhode Island law, some automatic orders deal with the couple's property and others relate to any children that the couple has.

Rhode Island residents: change beneficiaries after divorce


When it comes to annuities, a retirement account or a life insurance plan, most people in Rhode Island name a beneficiary and then promptly forget about it. It only makes sense, when married, to select one's spouse as the beneficiary to these important accounts. But what happens to these beneficiary designations if the couple divorces? When this happens, it is important not to let the issue sit on the back burner, but to address it as soon as possible.

Importance of having a plan during and after a divorce


Rhode Island residents know that life can present many challenges. One of the most difficult experiences some individuals may face is divorce. However, if one utilizes certain strategies leading up to their divorce, as well as after it is over, they may find that the process isn't as stressful and grim as they once may have thought.

Divorce insurance issues facing Supreme Court

Rhode Island residents understand that divorce carries various family law issues along with it. Divorce proceedings bring along issues of alimony, child support, child custody and various property issues. Divorce also brings up issues with insurance and who is entitled to what. This issue is now before the Supreme Court.

Life Insurance Issues in Divorce

Life insurance plays an important role in divorce proceedings. It may be used to insure the payment of child support or alimony. A parent with one 10-year old child who is required to pay $150 per week in child support, will pay $7,800 per year and $62,400 over the eight years. The custodial spouse may wish to insure those payments with life insurance in case the non-custodial parent dies suddenly.

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