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Are Life Insurance payouts received usually split

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jaredo

Junior Member
I will be filling for divorce soon and my father passed away last week. I will be receiving a small amount $20,000 in life insurance from his death. Will this have to be split between me and my wife?
 


Zigner

Senior Member, Non-Attorney
I will be filling for divorce soon and my father passed away last week. I will be receiving a small amount $20,000 in life insurance from his death. Will this have to be split between me and my wife?
US Law Only!
 

Zigner

Senior Member, Non-Attorney
If you are the only named beneficiary, and if you don't "mingle" the funds with marital funds, then you don't have to share.
 

jaredo

Junior Member
Just to clarify when you say only named beneficiary there was also my brother and my mother but not my wife. I assume I am still okay?
 

Zigner

Senior Member, Non-Attorney
Just to clarify when you say only named beneficiary there was also my brother and my mother but not my wife. I assume I am still okay?
Ok, I'll rephrase.
The money belongs to the named beneficiary or beneficiaries. From the way you have described your situation, you wouldn't have to "share" so long as you don't do something to make the funds "marital funds"
 

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