By: Cynthia M. Winter
While people generally do not enter into a marriage with the expectation of getting a divorce, the reality is that many issues arise during a marriage which often causes a couple to divorce. Most people do not realize the costs associated with a divorce and struggle to afford an experienced family law attorney. Once a couple has separated, each party generally becomes immediately financially strained as they are now supporting the costs of two households instead of one marital household. Divorce insurance allows a couple to plan their finances in the event they decide to file divorce.
The costs associated with filing a divorce are dependent on the number and complexity of issues in the case. For example, if the parties have minor children and are not able to agree on parenting issues, the case will involve more attorney time and therefore will be more expensive than a case without children’s issues to resolve. In addition to attorney time, costs associated with a divorce also include, but are not limited to, court costs such as copies and filing fees as well as costs associated with obtaining a process server. Further, if the case goes to trial, costs may include the expense of obtaining documents, a court reporter, and/or expert witnesses.
Planning ahead for any financially stressful situation is important. Divorce insurance has recently become available through Wedlock Divorce Insurance to assist individuals in planning a financial safety net in the event he or she gets divorced by paying the insured a lump sum of cash. Divorce insurance is sold in units, each unit being equal to $1,250.00 in cash of initial coverage, and costs $15.99 per month per unit. Divorce insurance does not cover a pending divorce, but rather a divorce which occurs after the “waiting period”. The standard waiting period is 48 months. However, the actual waiting period varies for each policy. Once the waiting period expires, benefits increase by $250.00 per year without an increase in premium. Therefore, the further in advance you plan, the more you will benefit. In the event a divorce occurs after the waiting period, the insured files a claim with Wedlock to receive their lump sum cash benefits.
To find out more Wedlock Divorce Insurance, visit www.wedlockdivorceinsurance.com.
For more information about Anton Castro Law in Tampa, FL please call 813-907-9807.