Legal Question in Family Law in Maryland

Splitting of Assets

Since divorced in 1998, my ex-spouse made a verbal agreement to continue to pay for my whole life policy as long as he was beneficiary. He now claims to not realize that it was being payrolled deducted. He claims he is entitled to the lion's share of the value of the policy since he was paying for it after the divorce. I contend I have no obligation to cash the policy in nor pay him a cash value amount as that is not something entitled to be split unlike the home, 401k's or pensions. What is the Maryland law on insurance policies?


Asked on 9/30/04, 2:19 pm

1 Answer from Attorneys
Robert Sher Wagshal and Sher

Re: Splitting of Assets

An insurance policy can be a marital asset subject to distribution, but the court only has jurisdiction for up to 90 days after a divorce becomes final to dispose of marital property issues. As you describe the agreement between your ex and you, he's not entitled to any ownership interest in the policy, but would be entitled to remain as beneficiary as long as he continues to pay the premium. If he stops paying the premium, you would be free to change the benficiary or dispose of the policy as you see fit. On the other hand, if you do that while he's still paying the premium, he might have a claim for restitution of the premiums he's paid since the divorce.

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Answered on 9/30/04, 2:47 pm


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