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How Life Insurance Works In Divorce:

Insurance beneficiary changes to make during a divorce

In the case of a divorce, particularly an acrimonious one, there is a good chance you will no longer want your ex-spouse profiting from your death. If no children are involved, few good reasons exist to continue having an ex-spouse as your life insurance beneficiary. Most life insurance policies are revocable, meaning the policy owner may change the beneficiary at any time. Some appoint irrevocable beneficiaries, in which case the beneficiary, once designated, cannot be changed. The easiest way to change your beneficiary after the divorce is to contact your life insurance agent; he can verify if the policy is revocable and re-designate your beneficiary.

In this stressful emotional and legal period, you need an estate planning attorney you can trust. Taroff & Taitz, LLP is uniquely and extensively qualified in all manner of estate planning, including the setting up of life insurance trusts. Our will, trust, and estate attorneys are standing by to help you through this difficult legal and emotional time.

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