Life Insurance & Divorce
Why You Should Be Talking About Life Insurance During Your Divorce
When a divorce includes provisions for alimony or child support, it is a common practice to include an agreement stating that the supporting spouse should have a life insurance policy. This can guarantee that the child will still be provided for in the event that the supporting parent suffers an untimely death.
You can also include a provision in your divorce agreement stating that, if your ex-spouse changes the beneficiary designation or they allow the policy to lapse, you and/or your children would be entitled to a portion of your ex-spouse’s estate equal in value to the death benefit of the insurance policy.
How Long Will the Life Insurance Policy Be Maintained?
The amount of time the policy is maintained will depend on what the policy is intended for. If the life insurance policy is meant to provide financial security for a minor child, it can usually be terminated once the dependent child reaches the age of 21 in New York.
The supporting parent can maintain the policy beyond their child’s formative years if they so choose. If the life insurance policy is meant to guarantee alimony or a property settlement, it can be maintained for as long as the alimony payments are required, or until the business value is transferred.
Call Lois M. Brenner, Esq. to Learn More About Your Options
Lois M. Brenner, Esq., a highly acclaimed divorce lawyer, seasoned litigator, accredited mediator and psychologically trained medical professional, has been serving and protecting families throughout New York for more than three decades. She has even been featured as a family law expert on television programs like Good Morning America, The Oprah Winfrey Show, and CNN – just to name a few.
If you need help protecting your family’s financial security, call our team at Lois M. Brenner, Esq. today. You can schedule your initial consultation by calling (646) 663-4546.
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I had a complicated situation wherein I had to get a divorce through publication as my husband and I had not been in contact for 5 years and I was out of the US for a few years. (it was an abusive marriage) I reside in Buffalo and I spoke with several attorneys locally but I did not feel that any of the local attorneys were able able to understand my situation. Some suggested that I locate my husband, and each one of them wanted to start by identifying and listing the assets. Unsatisfied, I started looking for attorneys in NY city, and I found Ms. Brenner through Avvo. During the consultation, she was extremely kind and understanding and agreed to take on my case. Ms. Brenner helped me get a divorce through publication and she/her team took care of everything. All I had to do was provide her with documentation. I am grateful to Ms. Brenner for helping me get out of a sticky stressful situation. I would definitely recommend her to anybody in a similar situation. Thank you, Ms. Brenner.
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I have hired Mrs. Brenner and had the best experience with her in my complicated and intense divorce. She was there for me all the way, always answering promptly any questions I had. She gave me the best advice, in such a caring and kind way. She has an amazing team of specialists, that will cover any needs you might have. I highly recommend Mrs. Brenner, you can feel she’s got your back!- JN
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Lois acted as the mediator in my divorce, and she was absolutely excellent. It was a very difficult time for me personally, but Lois made the process as easy and painless as it could possibly have been. She listened to each of us separately, and made thoughtful and helpful suggestions. She is fair, and seemed to genuinely care about finding a solution that was best for both parties. Lois is perfectly qualified to handle this type of situation, given her background in psychology. She truly understands people, and used this ability to keep my ex-husband and I calm, and smoothly navigate a few tricky situations. I felt very understood by Lois, and think that she not just a top-quality attorney, but also a very decent person. She is responsive, and answered my emails within a couple of minutes every time. Highly rated!
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Amazing, Skillful Mediator!!!! We went to see Lois Brenner for a mediation consultation. We had pretty much decided our marriage was over. We just wanted to end things fair and amicably. Lois Brenner spent so much time with us, and gave us great insight as to how the process would help us, we hired her on the spot. Our sessions thereafter were stealth. She organized us, helped us identify and address all the issues. She showed us how to communicate effectively throughout the process. We were able to address all our issues, especially property and finances, arrive at a comfortable settlement agreement, and now we are waiting for the judge to sign our divorce. What an extraordinary process. I highly recommend Lois Brenner and mediation. She’s super, and mediation really works.- Maggie and Josh
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“You are New York’s best divorce lawyer!”- Danielle
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Amazing, Skillful Mediator!!!! We went to see Lois Brenner for a mediation consultation. We had pretty much decided our marriage was over. We just wanted to end things fair and amicably. Lois Brenner spent so much time with us, and gave us great insight as to how the process would help us, we hired her on the spot. Our sessions thereafter were stealth. She organized us, helped us identify and address all the issues. She showed us how to communicate effectively throughout the process. We were able to address all our issues, especially property and finances, arrive at a comfortable settlement agreement, and now we are waiting for the judge to sign our divorce. What an extraordinary process. I highly recommend Lois Brenner and mediation. She’s super, and mediation really works.- Maggie & Josh
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My divorce was very stressful time. Since we were able to agree with my ex-husband on many important issues I originally thought that I will be able to fill in all the necessary documents by myself. It turned out that it is nearly impossible task. The amount of paperwork was overwhelming! I was not happy with some lawyers I've approached - too expensive, too impersonal, too aggressive. When I met Lois everything changed. For very reasonable price she was able to help us - talked to both of us, gave us great suggestions. Everything went extremely well. It was quick and painless. We could not thank her enough!
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Dealing with this firm was a gift from above. They were very understanding and made the whole process painless. They are open after regular work hours which was super convenient for a working professional. As a Surgeon in NYC going through this process the firm was very accommodating to my changing schedule. I am forever grateful that the firm was able to find a great solution to all issues so that everyone was taken into account and came to a responsible agreement. Thank you Lois Brenner you are the best!- Jose Loor
