How Life Insurance Works After Divorce:
Accounting for cash value Pt. 2 –
The cash value from a life insurance policy represents part of your net worth. The most equitable thing to do is to list the life insurance policy, including its cash value, among the marital assets to be divided. In a common divorce situation where assets are divided evenly, this means you leave the marriage with half the cash value from the policy.
Estate planning is often a forgotten part of post-divorce proceedings, but if left unattended to, could lead to certain consequences.
In addition to the work we do in estate planning, Taroff & Taitz, LLP recognizes your need to establish trusts to further preserve your assets upon passing. Contact our insurance trust attorneys to help secure the future for your loved ones while preserving the legacy that you have spent your life creating.