Saw a little nugget in Chicago Lawyer from Joseph DuCanto. The tip is to name the custodial parent as the beneficiary on the life insurance on the other parent's life. I think more often than not Marital Settlement Agreements will name the respective parent as "trustee for xyz child." Naming the parent directly allows for easier access to funds and that's the intention of the life insurance anyways. Also, perhaps add a 30/60 deadline to do this and show proof...attorneys follow-up on this. Too often these provisions aren't followed up and then tragedy strikes and the now single parent is having to fuss with probate court.
The Illinois Family Lawyer
Commentary on the practice of family law (and other riveting subjects) from a Chicago lawyer
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