"Beneficiary designations" transfer property to beneficiaries after the owner is deceased. They are used for bank accounts, investments, insurance policies and the like. Often people fill them out once, then forget about them. They may not update them for years, or ever. However, life goes on. Divorce, death of a beneficiary, estrangement of family members, children growing up, aging of … [Read more...] about Why Beneficiary Designations are important
Texas family law requires that divorces affecting children take "the best interests of the child" into account. Therefore, a divorce decree may require a parent to purchase and maintain life insurance in a particular amount for the benefit of the children. Commonly, the parent who is paying child support (Payor) will be required to buy and maintain the insurance on his or her life for the … [Read more...] about Why Does my Divorce Decree Require me to Purchase Life Insurance?