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D-I-V-O-R-C-E

D-I-V-O-R-C-E

 

According to the American Psychological Association, 40%-50% of marriages end in divorce. As messy as they can be, especially when it comes to children or abuse, one thing isn’t considered and that is insurance. Frankenmuth Mutual Insurance Company provides today’s topic information on what to do about insurance in a divorce situation:

  • Separate auto insurance policies – If the vehicles are titled to the specific person, separating the autos onto individual policies is easy. If they are co-titled, that is a different story. Your hometown insurance agent can help figure out what is needed.
  • Youthful Operators – with now-separate households & auto policies, the next determination is where the youthful operators will live and onto which policy they need to be listed.
  • New Residence – moving into a new apartment/condo/home will require a new insurance policy. Talk to your hometown insurance agent.
  • Staying in the residence – if you are staying in the home and it is co-deeded, talk to your hometown insurance agent about the best way cover both parties’ interest. Removing them from the policy completely could cause legal/financial/insurance trouble.
  • Update your life insurance – you may need to change the beneficiary from your former spouse to someone else or reallocate their portion of the policy.
  • Purchase life insurance – making sure your kids are taken care of financially after your passing should be a priority. If you don’t have life insurance now, talk to your hometown insurance agent.
  • Update your will/trust – life insurance & wills are often overlooked amidst divorce. Make sure they are updated accordingly.

 

Divorce can be a devastating event, your hometown insurance agent is there to help the insurance portion transition as smoothly as possible for your next stage of life.

 

Contact Us!

At Marsilje & Vander Plow Insurance Agency, we can work with you to make sure you’ve got the coverage you need, while at the same time using all possible credits and discounts to make that coverage affordable. Just give us a call at 616-396-1497 or send us a note at marsiljeins@gmail.com. We want to help you meet your goals, and make sure what’s important to you is protected!

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