Generally, one spouse will often list the other spouse as the beneficiary on a insurance policy. Life insurance is often a forgotten asset in many divorce claims. As such, there are several issues that arise during a divorce where a life insurance policy is involved.
Estate planning is important in every stage of an individual's life. It is very common for married couples to plan their states according to their martial status and thus make reciprocal wills. As families begin and grow, wills and trusts expand and evolve. When going through a divorce, there are certain factors each party may want to pay special attention to regarding their individual estate.