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Divorce and Life Insurance Payout

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  • 02-01-2009, 08:29 PM
    ktabar
    Divorce and Life Insurance Payout
    My question involves divorce in the State of: California

    I am in the middle of a separation and contemplating divorce. My mother is currently terminally ill and has a life insurance policy of which I am a beneficiary. Would my wife be entitled to half of the payout if the divorce is not final before the life insurance is collected? TIA
  • 02-04-2009, 06:40 AM
    Mr. Knowitall
    Re: Divorce and Life Insurance Payout
    The proceeds should be treated as separate property (See California Family Code, Sec. 770), but sometimes separate property provides a basis for the court to award the other spouse a greater share of the marital estate. Consult a divorce lawyer.
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