Miscellaneous Issues
Life Insurance
The court will require the paying spouse to carry life insurance for so long as he or she is required to pay child support or alimony with the receiving spouse named as the irrevocable beneficiary. It is extremely important for the receiving spouse to require proof of the insurance on a frequent (annual) basis. If the paying spouse dies and has not complied with this provision, the family law judge has no jurisdiction to enforce a penalty against the paying spouse’s estate. This issue now becomes a probate issue.
Dependent Exemptions
Nobody likes paying taxes, and in an effort to maximize the tax savings to the parties, they should be creative in dividing the dependent exemptions. Parties go so far as calculating their tax burden with and without the extra exemption, and whoever receives the smallest tax benefit will be paid that amount of money by the other spouse in exchange for the exemption.
Private School
Typically, the non-residential parent will be required to contribute to the children’s private school tuition only if the children have been enrolled in private school during the marriage and if it is economically feasible. It is usually not enough to prove that the parties planned to enroll the children in private school.
The court will require the paying spouse to carry life insurance for so long as he or she is required to pay child support or alimony with the receiving spouse named as the irrevocable beneficiary. It is extremely important for the receiving spouse to require proof of the insurance on a frequent (annual) basis. If the paying spouse dies and has not complied with this provision, the family law judge has no jurisdiction to enforce a penalty against the paying spouse’s estate. This issue now becomes a probate issue.
Dependent Exemptions
Nobody likes paying taxes, and in an effort to maximize the tax savings to the parties, they should be creative in dividing the dependent exemptions. Parties go so far as calculating their tax burden with and without the extra exemption, and whoever receives the smallest tax benefit will be paid that amount of money by the other spouse in exchange for the exemption.
Private School
Typically, the non-residential parent will be required to contribute to the children’s private school tuition only if the children have been enrolled in private school during the marriage and if it is economically feasible. It is usually not enough to prove that the parties planned to enroll the children in private school.