Going through the marital break-up process can present financial challenges just as it can pose emotional challenges. One financial matter that divorcing individuals in Colorado often forget to address is how to handle life insurance. Here is a look at how an attorney can help with tackling life insurance policies during the divorce process.
For starters, an attorney may ask divorcing parties what their intentions were when they initially purchased their existing life insurance policies. The attorney can then help them to figure out how their policies may be used following the divorce process. The attorney may also advise them on whether to pursue new policies once they have finalized their divorces.
An attorney can additionally highlight for his or her divorce clients what their insurance-related obligations will be once they divorce. In addition, the attorney can provide a client with advice on verifying that an ex is insured. The attorney may furthermore help with finding out if the client is insurable and what amount of coverage would be wise to obtain following the marital breakup.
Because the financial aspect of divorce has several moving parts, it can quickly become complicated. Fortunately, an attorney in Colorado can help divorcing parties to navigate life insurance and other monetary matters, such as the distribution of property. The attorney can also help a client to pursue alimony if he or she decided to forgo his or her career to stay home with the children. The attorney’s chief goal during a divorce proceeding is to make sure that his or her client’s rights and best interests are protected each step of the way.