If a party is the recipient of spousal maintenance (alimony) or child support, it is a good idea to include a provision in the Divorce Decree which requires the obligor (the party paying child support, spousal maintenance) to secure life insurance on his or her life for the remaining amount of the support obligation. For example, if one year of child support is Ordered at $500 per month, the Divorce Decree can require the Obligor to carry life insurance on his or her life in an amount of at least $6,000 (one year of child support payments).
Life Insurance to secure child support & spousal maintenance
By Farhan Hassan
September 15, 2010
If you receive a notice of a hearing related to child support in Minnesota, you may find that the hearing…
Before diving into the heart of this, it is important to understand how a monthly child support obligation is broken…
When a Minnesotan Court calculates a child support obligation, it is typically more than a basic child support amount that…
Minnesota Child Support Guidelines
Children benefit when financial support is provided from both parents. The parent who the child lives with the majority of the time supports the child
Tax Dependency Exemption versus Other Tax Benefits
As discussed in a blog post a few months ago, we discussed the ability of parents to claim a child as a tax dependency exemption…
Retroactive Child Support in Minnesota
You need to know if retroactive child support will apply to your case in Minnesota Litigation is often a lengthy process, even for issues that…