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Divorce Advice for Men | Fathers Rights Divorce | Child Custody

Providing men with essential divorce advice, fathers rights divorce information and child custody articles. Dads Divorce is a community for men facing divorce or fathers rights issues and run by Cordell and Cordell. Cordell & Cordell is a family law firm with a focus on men's divorce, child custody and fathers rights divorce.
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Dec 12, 2011

Indiana Divorce LawyerQuestion:

My financial advice on divorce question concerns the disbursement of a life insurance policy.

Would my spouse be entitled to money received by a life insurance policy with my name only as a beneficiary?


Dec 13, 2010

Divorce attorney Jason BowmanQuestion:

My wife has filed for divorce.

Can I remove her as the beneficiary on my life insurance now?

Can I also take money out of our bank account that I'm afraid she will spend?


Oct 13, 2009

Question:

My wife and I were separated for about 10 months. A few months ago, separation papers were filed after undergoing mediation and not reaching a resolution. She was diagnosed with a brain tumor and died about 3 weeks ago. She made her mom Power Of Attorney about one year ago. I was the beneficiary on her life insurance policy until two days before her death, at which time her mom took me off as beneficiary and placed my children as beneficiary. She also sold her car about two months ago, after separation was filed. My understanding was that all legal issues and assets are supposed to be frozen until determined by the court. Her mom never allowed us to progress with legal matters, so we were in "limbo" for about the last year. I have heard that in some states the husband has to agree to be removed as beneficiary. What are my legal rights?

 

 


Nov 29, 1999

Question:

Four years ago my wife and I purchased a life insurance policy. Now that she has cancer I discovered that she changed the beneficiary as the insurance company put her as the owner of the policy. Is this policy considered as marital property? Can she take this determination by herself? Can I initiate any legal action to stop her from doing this since our three children can be affected? I almost sure that she is initiating the divorce.

Answer:

Allow me to preface my answer to your question with the disclaimer that I am not licensed to practice law in the state of Pennsylvania. I suggest you contact your insurance broker to clarify if she can alter the beneficiary. It should be a marital asset. I suggest you also contact an attorney regarding other asset planning relative to her illness and possible divorce.

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