Beneficiary Designations and Divorce – An Opportunity to Serve During Difficult Times: Part 2: What Are the Beneficiary Best Practices Before, During and After Divorce?
Recording and Slides are Available Here .
Our clients don’t necessary tell us when they are going through a divorce! Yet ignorance about the potential costs, inattention to the risks or the details, or arrogance about outcomes with respect to life insurance beneficiary designations during and after divorce can easily result in millions of dollars of death proceeds being paid to the wrong person – and perhaps an unwinnable, highly expensive and embarrassing lawsuit!
· Community Property Issues
· Prenuptial Agreements
· Changes During the Divorce Process
· Working with the Client’s Divorce Attorney
o Explaining How Life Insurance Works
o Providing Input with Respect to Document Language
o Anticipating Future Problems
o Using Trusts
· Working with Family Members After the Insured Dies
· Using your knowledge as a marketing tool
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