Ex spouse has paid policy for 32 years. He is now in Memory Care ALF, Am I, current spouse of 30 years required to continuing paying premium which is now $8300 a year. Thank you. Sandra Foster
Dear Ms. Foster:
I am not clear on your question- but I am assuming that your current spouse was required to maintain a life insurance policy on his life for the benefit of his ex wife? Clearly you would not have the responsibility to pay the premium. However, there may be provisions in the agreement of divorce that allows for the policy limits to shrink over time, or other provisions that could be invoked to petition the Court to limit or terminate this. You should have a legal professional review the original divorce decree and see if there is a way to modify this. It is possible that if the policy lapses and your spouse dies that the former wife could have a claim against his estate.
Best of luck to you,
Cindy S. Vova
Law Offices of Cindy S. Vova, P.A.
Broward/Boca Raton
954-316-3496/5610962-2785
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