life insurance

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Re: life insurance

Unread postby RC411V » Tue Apr 04, 2017 10:46 am

Just thinking about it again, like yeah it is totally gender < bovine scat >. Why shouldn't she have the same thing, for in case she dies and I need more help with the kids?

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Re: life insurance

Unread postby afc » Tue Apr 04, 2017 10:48 am

So counter with that.
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Re: life insurance

Unread postby Trevor » Tue Apr 04, 2017 10:54 am

In states like FL where CS is calculated on both parents' incomes, it's easy to calculate the outstanding CS obligation for each party, assuming the month of emancipation for the children. OP may have a higher obligation, but she has one too, even if she is the primary residential parent to whom CS is paid.

I had online access to my insurance policy and could decrement by as little as 1% anytime I liked. So I build a spreadsheet that ran the numbers and time frames for adjustment. Never had to use it, but it's math, and spreadsheets. Cake.
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Re: life insurance

Unread postby JimRockford » Tue Apr 04, 2017 10:55 am

Don't forget about Social Security Survivor benefits in your calculations and reduce the policy accordingly. I think the counter is no policy on you, no policy on me.
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Re: life insurance

Unread postby RC411V » Tue Apr 04, 2017 5:16 pm

Thanks for all the input.

I don't think she ever read this document, so she doesn't even know what is in it.

I don't have this in my previous divorce MSA, and I don't think it'll be an issue to remove it from this one. I think it is just habit/standard procedure for the person preparing it.

I already have life insurance for myself, it just isn't $250k. So I'm just gonna say I'll leave it there and that is it.

Thanks for all the replies.
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Re: life insurance

Unread postby massdad1234 » Tue Apr 04, 2017 8:36 pm

best to stricken the wording then to try and manage its interpretation down the road. Only way it stays is if it is equal on both sides.

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Re: life insurance

Unread postby a dad » Wed Apr 05, 2017 2:00 am

Try to drop it.

If that doesn't work, propose it be reciprocal, let that sink in, then try to drop it.
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Re: life insurance

Unread postby Havalu7 » Wed Apr 19, 2017 10:07 am

RC411V this is what I love about the forum and recommend it to any guy who I think could use it.

You can present your issue or question involving all and any part of this painful process here and get so much input. It is a shame more guys do not use the strategy here like we do.

Hang in there RC411er.

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Re: life insurance

Unread postby TJinCA » Wed Apr 19, 2017 2:55 pm

If the purpose of the life insurance is to replace spousal support, then in my opinion the beneficiary (that is, the non-dead party) should pay for it. It seems to me that your responsibility to continue to support your ex should end when you're dead.

Responsibility to continue to support kids is different and it's why most of us have life insurance to begin with, whether still married or not--because a responsible parent ensures that his kids will be taken care of if he passes away. You have that moral responsibility but whether it needs to be codified as a legal obligation in the divorce decree is an open question.

Regardless, if it were me I'd maintain a policy but put the proceeds into a trust in the name of the kids. Name a trustee that you can trust to manage it appropriately (maybe your ex, maybe not). Specify that while the children are still minors, the trust will disburse funds to your ex at the same level as previously ordered child support.

If what your ex is truly interested in is surety that the kids will be taken care of, that should meet her requirements.
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