Dr. Judith Gerhart, CFP
Certified Divorce Financial Analyst 
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Fourth Step to Splitting the Money
October 11, 2008
4. GUARANTEE FUTURE SUPPORT.
Even if child support is addressed in the settlement, future events can bring the support to an abrupt halt if you don’t take precautions now. “One tip before finalizing a divorce is to mandate continuing or new life insurance while support payments are being made,” says Tony Blasting, a CLU, ChFC, CFP, AEP, Financial Advisor at Northwestern Mutual Financial Network. “I have seen cases where this is overlooked. If your ex dies, that will be the end of support checks. Even when the mandate is in place, he or she may change beneficiaries or lapse coverage. The only sure protection is for the receiving spouse to own the policy.” Follow the same advice on ensuring the mortgage or other debts get paid, including future college costs, in the event your ex dies or becomes disabled.
By: Pam Baker
Posted by Judith Gerhart on October 11, 2008 | Permalink | Post a comment
