Recent News

May 11, 2006

Securing a support obligation with life insurance

Spousal support and child support  can be integral to the terms of some divorce settlements. These questions can be particularly critical in negotiating settlement of the high income divorce where a certain standard of living is in question.

Once the agreed settlement takes place, however, how are the agreed terms for support guaranteed in the event of the death of the payor spouse? Insurance is one of the options as a source of guaranteed income for support, but there are differences in how courts treat life insurance as security for child support and as security for spousal support. 

Amy J. Weis of Babbitt & Weis will discuss securing those support obligations with life insurance policies during the seminar “Handling the High Income Divorce Case” on May 16 from 1:30 to 4:45 p.m. She will examine the reasons for securing a support obligation with life insurance and under what circumstances the courts allow the provision in a separation agreement or decree of divorce.

Weis' presentation will focus on those differences, current statutes and case law discussing this issue. She will also offer helpful tips on avoiding problems in the language of separation agreements and divorce decrees in addition to general information regarding insurance, such as common insurance terms and the types of calculators insurance companies use in determining what amount of insurance is appropriate in a given domestic case.

Other important aspects of the high-income divorce will be covered at the seminar. Robert “Chip” Snedaker II of Dougherty Hanneman & Snedaker will discuss spousal support, and child support questions will be addressed by Jacqueline L. Kemp of Kemp Schaeffer Rowe & Lardiere. Harold R. Kemp of Kemp Schaeffer Rowe & Lardiere, will explore valuing law practices, Robert N. Wistner will cover tax issues, and Douglas B. Dougherty of Dougherty Hanneman & Snedaker will discuss pre-marital agreements and pre-marital planning.

This advanced-level family relations seminar features a bonus 3.0 hours of family relations specialist law certification as well as 3.0 hours of general CLE credit. Register online at www.cbalaw.org for event # 3554 or phone 614/221.4112. The cost is $85 prepaid/$95 day of for members, $115 prepaid/$125 day of for non-members and $55 prepaid/$65 day of for paralegals.