What is the name of your state? Nevada
I have a substantial life insurance that will be split between my fiancee and my two children from a previous marriage.
1. Will my ex-husband be allowed to spend the kids life insurance monies in lieu of the child support I currently send him if I die, or is this money put in trust until the kids are old enough to handle it themselves?
2. Who is responsible for my outstanding debts when I die and are these paid from the life insurance monies?
3. Are taxes taken out of a life insurance payout?
Thanks!
I have a substantial life insurance that will be split between my fiancee and my two children from a previous marriage.
1. Will my ex-husband be allowed to spend the kids life insurance monies in lieu of the child support I currently send him if I die, or is this money put in trust until the kids are old enough to handle it themselves?
2. Who is responsible for my outstanding debts when I die and are these paid from the life insurance monies?
3. Are taxes taken out of a life insurance payout?
Thanks!