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Insurance changes among divorce issues

Sunday, September 24, 2017

One of the many issues that must be addressed during a divorce is that of insurance. As Texas residents know, couples often secure insurance plans that cover life, health and property. Dividing or otherwise reordering these sorts of plans are among the divorce issues that the parties may wish to consult their respective attorneys in order to their individual interests. 

Insurance pertaining to the shared home is a good place to start. If one spouse intends to keep the house as part of their divorce agreement, the insurance company must be notified so the insurance can be transferred to the homeowner's name exclusively. This is also true of auto insurance policies where one spouse is listed as a driver on the other's policy -- the spouse who no longer accesses the car should be removed. 

Health insurance is somewhat more complicated, particularly if one spouse is covered under the other's plan through an employer. While it is sometimes possible to keep a health insurance plan through a former spouse's provider, it becomes necessary for that spouse to pay into that plan him or herself. This is contingent on the nature of the plan and the policies of the provider. 

Obviously, divorce issues of this type can be complicated, and the solutions vary from state to state. Here in Texas, there are a wide variety of options available to people in the midst of a divorce. Seeking professional support to navigate the complexities of insurance as they pertain to a divorce can be beneficial for each party to the proceedings. 

Source: Forbes, "5 Crucial Insurance Changes After Divorce", Barbara Marquand, May 25, 2016

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