Family Court judge ordered me to get life insurance for my son. How this proceeds will cover future child support payments

Asked over 1 year ago - Clark, NJ

Judge ordered me to get life insurance for my son that is 4 and place him as the beneficiary . What is the reasoning behind this life ins if the proceeds will be distributed to my son only when he turns 18 years old . How about if I die today ? those proceeds can not be used to feed my baby during the next satyrs . . In a previous questions I asked ; lawyers advised me to have a trust so the mother will not spend those proceed in her , but I do not see the point of forcing me to get life ins to benefit my son when turns 18 . why the judge did not ordered the same for her ? I need money when my son is under age to pay his clothing , food etc . Any options besides life ins as a requirement for her ?

Attorney answers (4)

  1. David Perry Davis

    Contributor Level 17

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    Answered . What we have here is failure to communicate. Someone didn't explain to you what beneficiary means.

    The purpose of the life insurance is to secure your CS obligation; to guarantee that, should you pass away, your child will continue to receive support. When your were advised to put it into a trust, this means that you can set it up so that the life insurance proceeds are paid out over time for your son's benefit. For example, let's say you have $150,000 in coverage and you pass away. You wouldn't want your ex to suddenly receive a lump of money (to be used, of course, for your child). Instead, she would receive $833 per month (more or less, depending on interest) until your son is emancipated. You probably don't need to pay a lawyer to set up a trust, the life insurance company should be able to set up a simple one for you. If the amount of coverage is much higher ($500,000 or more),you might want an attorney to establish the trust to ensure there are no tax or other issues.

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  2. Aniello David Cerreto

    Pro

    Contributor Level 14

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    Answered . Dear Parent, it is in your child's best interest that you have to contribute to the support of your child even if you die while the child is a minor. You brought this child into the world. That money can be used on food, shelter and clothing among many other things your child's well-being. Yes there would probably be a trustee if your child is a minor to watch over the proceeds so they are not squandered and yes you want a person who is trustworthy to function as the trustee but god forbid you die your child should not be compelled to perish as well because of pain between the mother and father. A few hundred dollars a year is a small price to pay when compared to the alternative for your child, who I reiterate is the parents obligation to love and support. So if you die and there is no life insurance, the risk to your child is much greater than the mere inconvenience of making you get a life insurance policy (people die everyday, it happens). Make sure the other side has to get life insurance also for their portion of child support as well. One day when you look back you will want to tell yourself you did all you could for the love of your child. Be able to meet that aspiration. Get the policy and keep it in force until that child grows up. There is a word for doing so, its called "Parent". Good luck!

  3. Lawrence Charles Kroll

    Pro

    Contributor Level 15

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    Answered . The policy would pay benefits NOW if you should pass away, not at age 18. That is why there is usually a trustee named as the beneficiary, so that he proceeds of the policy can be utilized immediately. The reasons for ensuring there is coverage were amply discussed by my colleague. It is almost universal that Judges mandate parents obtain coverage to ensure their children's well being.

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  4. Geraldene Sherr Duswalt

    Pro

    Contributor Level 8

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    Answered . I agree with the prior answers as well, I think that there was a failure to expain the purpose of the life insurance. If you pass away before your son turns 18 then the trustee that is named, which is usually the child's mother, can use the funds for the child's support. Its purpose is to replace the child support that you are going to be paying while you are living. That way, if you die, your son will receive some support from you. It is standard for all parents to be required to obtain life insurance so I am surprised that the child's mother did not also have a life insurance requirement. You may want to check you Order, because unless it would be impossible for her to obtain life insurnace due to illness or some other cirsumstance that you did not indicate, the Judge should have ordered the mother to obtain life insurance as well. If he did not, then you may want to return to court to request that in the Order.

    Disclaimer: The information you obtain at this answer is not, nor is it intended to be, legal advice. You should... more

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