Child Support Obligation In Ohio If Ex-Spouse Dies
Secure Your Child Support Obligations Through Life Insurance? – The Pros And Cons To Consider
Imagine your ex-husband or ex-wife is ordered to pay $800 a month in child support for your one child, Amy, and Amy just turned ten years old at the beginning of the month. This would mean that your ex-partner would still owe approximately $76,800 more in child support [($800 per month x 12 months) x (approximately 8 more years until emancipation) = $76,800].
Now imagine the same scenario, but that your ex-partner just passed away yesterday.
In scenario one, you did not secure the child support obligation and Amy is no longer entitled to the $76,800 in child support that would have been to her benefit.
In scenario two, you and your ex-partner elected to secure the child support obligation by naming you or Amy as the beneficiary of your ex’s life insurance policy.… View Full Article → “What Happens if the Parent Paying Child Support Dies Prior to the End of the Child Support Obligation?”