Many Tampa family law attorneys request the court order the opposing party to carry life insurance in family law in excess of their child support obligation. This is extremely frustrating for parties, who have significant animosity towards one another because they fear that the other party will use it on their new spouse or boyfriend. This is only exacerbated when one of the parties is not enjoying the financial successes of the other party.
Ultimately, an experienced Tampa family law attorney will ensure the provisions of the Order concerning life insurance will be specifically paid into a spendthrift trust or some other alternative. A spendthrift trust will limit payments out of the trust to the equivalent of the previously occurring child support payments. This should serve to ease concerns about the mismanagement or wasting of the funds, if they were to pass away. There are many methods to control and ease the concerns of the parties about the proper, frugal management of the life insurance proceeds. Many folks are concerned when they are told they must carry life insurance in family law case.
If you or someone you know has questions concerning a court requiring you to maintain a life insurance in family law case or Tampa child custody matter, contact the Tampa family law attorneys of Hackworth Law for a free case consultation. We have handled many matters where Courts has required a party to carry life insurance in family law cases and their impact on child support matters. If you would like to contact one of our Tampa family law attorneys immediately, please contact our office immediately using the “contact us now” tab in the upper right hand corner of our website. We appreciate your time in checking out our Tampa family law attorney blog and we look forward to hearing from you.