Canceling Policy During Divorce

Jul 8, 2019

  1. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    then offer to take over and pay for the policy for the kids....the courts can't do shit for you......
     
  2. Robert Barney
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    Robert Barney Guru

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    I wouldn't jump to that conclusion until you give the court the option to do something.
     
  3. theleadingagent
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    theleadingagent Expert

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    ^^Well he is somewhat right. Depending on the incomes of the OP and ex husband....the courts assume you'll just claim social security for the kids if there is no life insurance. Average income cases - no the courts won't do shit. High dollar cases then perhaps.

    But like mentioned before - your lawyer needs to tighten up and be one step ahead of your vengeful ex.

    Plan B - like STI Broker mentioned, you can't trust this man to make payments on these life policies so you need to take matters in your own hands
     
  4. sparklyu
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    sparklyu New Member

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    It was a big policy. He was a surgeon.

    Thanks everybody. I've tried to warn my lawyer numerous times, but he seems to be out of his league. Never had a divorce like this. Quite frankly, I wish I hadn't either.
     
  5. theleadingagent
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    theleadingagent Expert

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    Well reasonable courts do like to keep kids at the same level they are accustomed to so I do think its reasonable to ensure the life insurance is kept in place for the dependent children.

    Remind him that he works for you thus he needs to take legal steps to ensure the policies are kept in place, that you need notification from the company should a premium not be paid/policy changes attempted, and that the beneficiaries cannot be changed without permission.

    If you can't get him to do this then you might need your lawyer to get the ex to get a lump sum (ex. 500k) for a trust fund so that in the event of death, loss of his income, etc the kids will be taken care of to the same capacity.

    Its much easier and cheaper to just pay an insurance premium though so not sure why exes have to be such pain in the ass
     
  6. Baseball7
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    Baseball7 Guru

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    I have plenty muslim clients....
     
  7. sparklyu
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    sparklyu New Member

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    Yeah... the X got a fatwa allowing it....but where his brother is, they all freak about it. It's also apparently not haram/forbidden for me or the kids to benefit from it. (Even on the super conservative sites.)
     
  8. sparklyu
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    sparklyu New Member

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    So help me if you can. Judge was pissed, but doesn't think there is much we can do. Insurance agent said he tried to convince him not to, but sent it off to Prudential anyways, who accepted the cancellation. (Although the policy still seems to be valid/in-force on the automatic line.) Judge is willing to sign anything to get it back... even his own lawyer is behind that. What should it say?? Can I be granted retroactive ownership over the policy?? Help me please.
     
  9. Tahoe Ray
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    Tahoe Ray Guru

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    I'm confused by this. If the judge required the insurance to be in force, then your husband has to do it or violate the divorce decree.

    I write several policies per year on divorcees who are court ordered to purchase a policy. I know that this was an existing policy but it would seem that by law it isn't that different of a situation.

    Can't the judge order your husband to pay the premium or face punitive damages?

    Maybe I'm missing something.
     
  10. sparklyu
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    sparklyu New Member

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    Husband was under standing orders to make no changes to the policy, etc. (These are general orders issued by the court.) In addition, there was a specific order stating that he cannot change any beneficiaries until further notice. Unfortunately, in spite of being asked, my attorney did not include anything regarding not canceling the policy. SO he did that.

    So, even though he's in contempt, because of his health issues, he's unlikely to be able to get another policy like this one. I'm wondering if he can have multiple no-exam policies?? Still, he's likely to pass sooner rather than later, so I'm not even sure if that would work.
     
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