A well drafted matrimonial settlement agreement will contain language addressing appropriate security in case of death, for all of the financial obligations included in the agreement. These provisions often are focused on life insurance and can be complex. Without the right language, the security promised may be illusory.
Below is a conversation between a family attorney (Jan L. Bernstein) and an insurance attorney (Thomas Novak), highlighting some of the most recurring questions when drafting a property settlement agreement. Working hand in hand with an insurance lawyer will help you navigate and anticipate murky issues affecting the rights of the financial obligor, beneficiary and, often times, the estate of the deceased.
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