{"id":3075,"date":"2017-11-22T14:02:49","date_gmt":"2017-11-22T19:02:49","guid":{"rendered":"https:\/\/www.lindabury.com\/firm\/?p=3075"},"modified":"2017-11-22T14:02:49","modified_gmt":"2017-11-22T19:02:49","slug":"important-role-life-insurance-plays-divorce-settlement-negotiations","status":"publish","type":"post","link":"https:\/\/www.lindabury.com\/firm\/insights\/important-role-life-insurance-plays-divorce-settlement-negotiations.html","title":{"rendered":"The Important Role Life Insurance Plays In Divorce Settlement Negotiations"},"content":{"rendered":"<p>When couples are ending their marriage or relationship there are many financial issues that need to be resolved including the division of property and respective ongoing support obligations. Two different categories of ongoing support one spouse may be responsible for are child support and spousal support, sometimes referred to as alimony. Child support is paid by one spouse to the other for the benefit of the children that they have in common. Alimony is paid for the benefit of the other spouse to account for a disparity of income that may exist between the couple upon their divorce.<\/p>\n<p>Once the amount of each obligation is either agreed upon or ordered, the former spouses can then move forward and create their new personal budgets knowing the amount of support that they will have to pay or the amount of support that they will receive. But, what happens if one of the spouses dies after a divorce? This is where the existence of life insurance policies to secure these obligations becomes particularly important.<\/p>\n<p>Unless agreed upon otherwise, the obligation to pay alimony terminates upon the death of either spouse. However, if a payee spouse has relied upon a certain amount of spousal support being paid to them, the sudden termination of alimony could be a life altering event. If a life insurance policy was in existence for the benefit of the payee spouse, the payout of the policy can help to mitigate the negative financial impact that sudden death can cause.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.lindabury.com\/firm\/insights\/important-role-life-insurance-plays-divorce-settlement-negotiations.html\"  title=\"Continue Reading The Important Role Life Insurance Plays In Divorce Settlement Negotiations\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>When couples are ending their marriage or relationship there are many financial issues that need to be resolved including the division of property and respective ongoing support obligations. Two different categories of ongoing support one spouse may be responsible for are child support and spousal support, sometimes referred to as alimony. Child support is paid [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[246,65,86],"tags":[],"coauthors":[202],"class_list":["post-3075","post","type-post","status-publish","format-standard","hentry","category-divorce-family-law-insights","category-insights","category-kobis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Important Role Life Insurance Plays In Divorce Settlement Negotiations &#8212; November 22, 2017 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events<\/title>\n<meta name=\"description\" content=\"When couples are ending their marriage or relationship there are many financial issues that need to be resolved including the division of property and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lindabury.com\/firm\/insights\/important-role-life-insurance-plays-divorce-settlement-negotiations.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Important Role Life Insurance Plays In Divorce Settlement Negotiations &#8212; November 22, 2017 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. 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Firm News &amp; Events","og_description":"When couples are ending their marriage or relationship there are many financial issues that need to be resolved including the division of property and","og_url":"https:\/\/www.lindabury.com\/firm\/insights\/important-role-life-insurance-plays-divorce-settlement-negotiations.html","og_site_name":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events","article_published_time":"2017-11-22T19:02:49+00:00","author":"Nicole A. Kobis","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Nicole A. 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