Legal Question in Family Law in California
Term Life Insurance
Can a term life policy be:1. Held as Sole seperate property, 2. Assuming a policy is considered by the parties to be community property, can it be changes to sole and separate property, in a divorce, so that the children become the benificiaries , rather than the ex-wife?
2 Answers from Attorneys
Re: Term Life Insurance
1.) not if it was purchased with community funds; 2.) yes, you can negotiate just about anything.
Re: Term Life Insurance
If the term life insurance is through the employment the court consider that the policy is similar to a month to month rental. At the beginning of each month the policy ends and starts anew with the next month. Thus term life policies that are paid by the month change from community property to separate property at the end of the term paid for with community property.
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