- Dealing with divorce
Divorce can be a lengthy process, but with some preparation, you'll save time and money, protect your interests, and prepare for your future. You may want to hire an attorney to protect your interests, although doing so may be expensive. A mediator or other divorce professional may be able to help you and your spouse if you're unable to resolve large issues such as child custody and support, health insurance, how debts will be handled, and the distribution of your assets. Consider getting emotional support or counseling for yourself, too.
- Health Insurance and Divorce
Examine your family's health insurance coverage before your divorce occurs. Some divorce decrees stipulate who will pay for health coverage for the other spouse and the children. Neither an employer nor an insurer can deny court-ordered coverage if children are involved. If coverage is not part of the decree, you'll have to scramble for coverage if your ex-spouse is the insured on the family policy. Federal law provides for a court order to secure the children's continued coverage if the noncustodial parent, insurance company, or employer refuses to cooperate. COBRA is another option.
- Insurance Concerns of Divorcing Couples
Divorcing couples face many changes (both financial and emotional), and planning for these changes should take place before the divorce is final. To protect alimony and child support payments, the custodial parent may want to insure the life and the income stream of the noncustodial parent. A noncustodial parent may want to insure the former spouse's life in case that parent dies and custody of the children must change. Life, disability, health, and property insurance policies should all be reviewed and modified or rewritten to reflect the divorce.
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