Towe, Ball, Mackey, Sommerfeld & Turner, PLLP
Call for a free consultation
Toll Free:800-838-3083
Local:406-534-0288

Property division, alimony disputes may make divorce challenging

Divorce is a major life event that can have serious consequences down the road. This is true no matter what one's age is at the time of a divorce involving property division, asset distribution or alimony payments. A few tips may help to make the divorce process as easy and positive as possible in Montana considering the circumstances surrounding the marital dissolution.

First, many people forget to update their beneficiaries after getting divorced. These beneficiaries need to be updated on insurance policies and retirement plans to ensure that the people listed as beneficiaries are the ones who are supposed to receive these assets in the event of one's death. All estate documents, such as a power of attorney and a living trust, must also be updated to reflect a new divorce situation.

Protecting one's alimony and child support payments is also a high-priority area of focus following divorce. If an ex passes away, child support or alimony payments will end up stopping. However, the ex could take out a life insurance policy, with him or herself being named the beneficiary -- at least for the length of time one is supposed to be receiving alimony or child support from the ex.

Divorce involving asset and property division can have an impact on many facets of one's life both emotionally and financially. However, being as prepared as possible going into the divorce proceeding may help to provide one with a sense of control when everything seems overwhelming and chaotic. An attorney in Montana can offer guidance from start to finish so that one's best interests are taken into consideration during this type of family law proceeding.

Source: forbes.com, "How To Succeed Financially During And After A Divorce", Mark Avallone, Jan. 27, 2017

No Comments

Leave a comment
Comment Information