In a California divorce, there are sometimes details that seem insignificant at first that can actually create problems in the short and long term. One of these areas is life insurance. In cases where one spouse is paying child support or alimony, the parties need to think ahead into the future to figure out the proper arrangement.
While a life insurance premium seems constant, it is not the case. As people get older, their premiums escalate. In addition, their health may change in a way that makes them more expensive to insure based on their condition. This must be factored in when mandating a level of coverage years into the future. This could be too expensive too maintain.
In addition, the parties need to do the work now to accurately forecast what the expenses for the children or the spouse will be in the future. It may be difficult to project what college tuition or other expenses can be at some point years from now. Parents certainly do not want to be in a position where one has passed and there is not enough money to provide for the children. Insurance issues go beyond just dollars and cents and are difficult to project with a crystal ball even though the parties should consider as many contingencies as they can.
A divorce attorney may be able to point out many things that people in the midst of a divorce could fail to consider at the time. He or she might suggest various property division ideas and solutions to deal with the contingencies that could arise in a way that could help break a deadlock and finalize the case. Life insurance is a complicated area that could benefit from some outside knowledge and experience, especially as it relates to the issues that could arise from a divorce.