Text UsOne thing separating parties don’t think about right away is what happens to life insurance after divorce in Florida. You may want to speak to your spouse about providing an amount of life insurance on their life that would secure the child support (and alimony) in your case, payable upon your spouse's death. You would want to be the sole and irrevocable beneficiary of that policy until child support (or alimony) is no longer due. It's important to understand the life insurance beneficiary rules after divorce. If you want your spouse to provide life insurance, and your spouse does not agree to this, you have the right to stop the uncontested divorce proceedings and start a contested divorce. The judge on the contested divorce isn't necessarily going to order your spouse to provide life insurance, but it is a possibility.
Life Insurance After Divorce in Florida
****IMPORTANT ***Also bear in mind that if you are currently, or prior to the end of your divorce case named as the beneficiary of your spouse's life insurance policy, that said designation will be void and of no further effect upon the dissolution of your marriage, and you will receive no benefits upon your spouse's death. This is pursuant to state law. **** IMPORTANT *** To avoid this, you will need to immediately have your spouse contact the life insurance company to tell them in writing that you are to continue to be the beneficiary of the life insurance policy even after the divorce. The company should be asked what additional steps, if any, need to be taken in this regard.
Life Insurance Beneficiary Rules After Divorce in Florida
Please let me know if you have any questions. If your spouse agrees to provide life insurance after divorce in Florida, or agrees to provide life insurance with you as beneficiary, please let me know so that I can include that in the settlement papers before you sign them. Also, you may want to yourself purchase life insurance on your spouse's life with you as the beneficiary. This may require the consent of your spouse. You should talk to your spouse about whether they would consent to this and help you get such insurance although there is no guarantee that the insurance companies will sell you this type of insurance on your spouse's life with you as the owner. (You may be better able to buy this insurance on your spouse's life if you have children or there's alimony to be paid in your case but you would have to talk to the insurance company about this).
Life Insurance After Divorce
You could also ask your spouse to make you the beneficiary of their life insurance policy even if there's no child support or alimony involved in your case. (But again, you should check with the life insurance company to make sure that this is possible). You should let me know immediately so that before you sign anything, we can put it into the marital settlement agreement in the event that your spouse will furnish life insurance with you as beneficiary, or in the event that your spouse will consent to you buying a policy on their life.
Court-Ordered Life Insurance After Divorce in Florida
If your spouse will not consent to any of these things, or the life insurance will not be available, you may want to negotiate with your spouse for something else besides you being a beneficiary of life insurance. And note that we can ask the judge in a contested divorce to order your spouse to provide life insurance with you as the beneficiary, or order your spouse to consent to you buying a policy on their life. This is know as court-ordered life insurance and is sometimes something we can push for.