When facing divorce, whether in Georgia or any other state, taking care of insurance policy issues is a subject that certainly needs to be addressed. There are several different types of insurance that the parties may have purchased during the marriage, and a divorce may have some impact on the coverages and premiums of each of the policies. Each policy should be carefully reviewed during the divorce negotiations.
One of the most common questions asked of Georgia family law attorneys is whether spouses can remain on one another's health insurance after their divorce becomes final. Unfortunately, the answer to that question is usually no. Most health insurance companies will only insure current spouses.
A divorce generally has two components: the legal aspect and the logistical aspect. The former entails the often-lengthy legal process of divorce, from filing a complaint in Georgia family court, to meeting with various court-assigned professionals, and finally, to reaching a final divorce decree.
In our previous post, we looked at an article written by Cristina Fuentes, a senior financial advisor at Ameriprise Financial Services, Inc., and considered her suggestions as to how couples planning a divorce should view the issue of health insurance. Here we will briefly look at life insurance and disability income insurance.
Divorce experts and experienced family law attorneys know that the divorce process can be radically varied for different couples; that is, it seldom unfolds in a cookie-cutter manner. There are numerous reasons why couples divorce, ranging from incompatibility considerations and financial concerns to child-related issues and other matters.