An insurance and divorce in Nassau County lawyer can assist you if you are concerned about what will happen to your insurance policies after you get divorced. Most people are aware that they will lose access to a spouse's health insurance benefits once the divorce decree is final. Losing your insurance suddenly can be a big problem and it’s one you should be prepared for. Doing your research in advance, such as before you file, can help you during the divorce trial so that you’re covered and don’t have to worry about a health crisis.
There are other insurance issues that may arise as a result of these concerns and an insurance and divorce lawyer in Nassau County can help you figure out how this may affect you and your future. Once such an example includes life insurance. There are particular situations in which the judge may require that one party maintain a life insurance policy on the other, particularly if the individual required to get the policy has a financial responsibility to the other spouse that can help you at the current point in time. This can be used to cover spousal support, distribution of property and other expenses.
Most people will recognize the significant impact that the loss of a health insurance will have on their life once the divorce is finalized. A Nassau County insurance and divorce lawyer will be able to help you figure out the financial implications for your life of all of the various fallout on divorce and point you in the right direction going forward.
You may also wish to work with other professionals, including a financial planner or a CPA to understand the financial alterations in your life that will need to occur. If you had previously had health insurance coverage through your spouse's employer, you may never have thought twice about getting supplementary coverage. However, you will need to find health insurance coverage for yourself after the divorce is final. A Nassau County insurance and divorce attorney will tell you that you must iterate during the course of your divorce that you understand that you are no longer entitled to this spouse's health insurance benefits. You may be eligible to receive these benefits for a period of time under COBRA benefits or undercover benefits. The law may require your spouse to continue health insurance for your children but not you. You cannot anticipate that your spouse will be responsible for your health insurance payments any longer. If your spouse is working for a company that has 20 or more employees, you are eligible for COBRA benefits. This federal law allows you to stay under the spouse's health insurance plan after the divorce; however, it can be extremely expensive. It may be more affordable to get health insurance coverage of your own through your employer. With COBRA insurance, you will pay the entire premium payment on your own but an employer may share part of your expenses for health insurance if you go that route. You need to look at the various plans offered by private companies to identify the most appropriate deal for you. It may be possible to find a longer lasting and more affordable solution than COBRA but you need to take action quickly by consulting with your attorney and engaging other professionals as you move closer to a divorce. With so many unique considerations to evaluate during this difficult process, you need to set aside time with a lawyer who will walk you through every phase of your case and give you further information about what you might anticipate.