royho wrote:I purchased a term life insurance policy 20 years ago.....the need for that term insurance is gone.
This is true. However:
Are you court ordered to pay post majority child support while your kids attend college??.....OR,
are you court ordered to pay alimony?? if so, your STBX may have an insurable interest on your life.
1) Do not agree to pay for college. You want no mention of college or post-majority child support in your decree.
Termination of support at 18 or completion of high school, whichever is later
No statute or case law holding parents to a duty to college support in the absence of an agreement.
See Curtis v. Kline, 542 Pa. 249, 666 A.2d 265 (1995).
Note – see; Pennsylvania Supreme Court ruling in Curtis v. Klinehttps://www.google.com/?gws_rd=ssl#q=Pe ... s+v.+Kline
2) If you hafta pay alimony, get a termination date certain and a non-modification (aka, no revisitation) clause. The only modifiable provision you want is if you should lose your job or if you hafta take a pay cut. Ideally, you want no alimony provision at all.
royho wrote:.....have had several spousal support amendments as she's both lost and changed jobs over the two years.....
^^^ This is what you want to avoid after divorce is finalized; modification after modification after modification, ad infinitum.
Alimony must never be her pension. Research CA's Gavron Warning (Gavron vs Gavron - case law). In your decree, you want specific terms and conditions for alimony termination. You want an air-tight decree. Do not rely solely upon PA statute.
Everyone is entitled to my opinion. - Maxine™