By Appointment Only
Main Office
Call Now To Get Your Life Back
Life Insurance & Divorce in Maine
Even when there are no other options, divorce can be a devastating process. Each spouse is at risk for financial hardship, even if they are parting amicably. When you divorce, you are splitting one household into two, creating the potential for money problems. There are many moving parts to be dealt with before and after a divorce. For example, how will parenting responsibilities work, which spouse will remain in the family home, what will happen to other marital assets? With all that is going on, many couples forget to think about life insurance in light of their divorce. An experienced Maine family law attorney can help you be sure that you attend to all of the matters surrounding your divorce, including life insurance.
Handling Life Insurance in a Divorce
Life insurance is an essential part of a divorce settlement. For many couples, life insurance is purchased for potentially paying their existing or anticipated debt and other financial responsibilities if one spouse passes away. In a divorce, these financial obligations do not disappear, and neither does life insurance policies.
When assets are accounted for, valued, and divided, life insurance should also be considered. If you have term life insurance and each spouse wants to keep the policies, you can. Some spouses, especially when there are children involved, choose to leave each other as beneficiaries. However, if your policies are whole life insurance and have a cash value, you may decide to cash them out and split the proceeds.
Questions to Ask Your Maine Divorce Group Attorney About Life Insurance
Your attorney will be able to educate you about options specific to your situation and your policy. Having this knowledge will allow you to make the best decisions for you and your family during and after your divorce. Now is a good time to think about why you purchased life insurance policies, to begin with, and what their purpose will be in the future. You might want to address the following questions with your lawyer:
- What should happen to your life insurance policies after your divorce?
- What insurance obligations will you have after your divorce is complete?
- How can you verify that your soon to be ex-spouse is insured?
- How do you evaluate the necessary amount of life insurance?
- How do you know if you are eligible for life insurance?
Trust The Maine Divorce Group with Your Divorce and Life Insurance
At The Maine Divorce Group, we leave no stone unturned when it comes to matters in your divorce. We know that this time is stressful, and it can be difficult to remember all of the issues that should be addressed. Having helped many clients in your shoes, our lawyers have the compassion and skill to ease your worries and get the best outcome possible in your divorce. We can help you account for any life insurance policies owned by you or your spouse and make a plan for handling them in the divorce process. Contact our office today to schedule your consultation with a well-versed attorney.
Geri Wallace
Excellent law firm.
JJ Durette
Thank you for providing the best lawyer services in Maine and achieving the results I wanted. Keep up the great work!
John Cherry
They were very professional and the services provided to me were beyond my expectations. I was able to leave the issues in the hands of Mr. Bly and not only did he provide excellent service, but went above and beyond on my case. The outcome was better than I could…
Ken Moulton Jr.
Honest and fair practice. Treated me right, from the first point of contact until completion.
Brian Prescott
This team is the best around! Very professional , caring and involved. I would highly recommend their services to anyone in need. Very prompt at answering questions and you’ll allows get a personal experience while calling them. Thank you guys for making our situation a lot easier.
Kellie Berube
Every person at this firm was exceptional. I would highly recommend them. They more than exceeded my expectations and made a very stressful situation much easier to handle. I cannot express my gratitude enough!
Jennifer Hall
Contacted Attorney Bly for a consultation on a sensitive issue. His staff is wonderful and caring and extremely attentive with their contact. Attorney Bly was extremely helpful with his guidance and recommendation for my case. He listened to what I had to say and made excellent suggestions for a path…
Mike Gemmell
Good communication and very knowledgeable.
Jenn Gore-Cuthbert
Excellent Attorney! Highly recommended.
Ready to get your life back? Call now!
Ready to Get Started? Contact Our Firm Today!
The attorneys at The Maine Divorce Group understand how emotional and complex the divorce process can be and we are here to help.
Call to speak with a member of our team today, who can discuss your case and set up a consultation with one of our attorneys.
Portland Office
Biddeford Office
Attorney Advertising. This information is designed for general information only. The information presented should not be construed to be formal legal advice nor the formation of a lawyer/client relation-
ship. Past results and testimonials are not a guarantee, warranty, or prediction of the outcome of your case, and should not be construed as such. Past results cannot guarantee future performance. Any result in a single case is not meant to create an expectation of similar results in future matters because each case involves many different factors; therefore, results will differ on a case-by-case basis. By providing certain contact information herein, you are expressly authorizing the recipient of this message to contact you via the methods of communication provided. We are part of The Maine Criminal Defense Group.
NUVEW | Copyright 2021 The Maine Divorce Group | Terms of Use | Accessibility Notice
