Q: My maintenance ends in April. Can I pay early and absolve myself of further obligations.
Divorce decree states that I must maintain a $500k life insurance policy as long as I owe maintenance. If I were to die prior to finishing maintenance would my estate be liable for the life insurance?
A: Based on these limited facts, I believe your estate would only be liable for the remaining maintenance payments. I do believe you could pay early if you want. A review of your divorce decree is necessary in order to give a formal opinion.
A: From a divorce law standpoint, you can certainly prepay your maintenance. You should check with a CPA as to whether prepayment affects your ability to deduct the payment from your income for tax purposes. If you prepay, you could, in theory, end the life insurance policy, though an attorney would need to review your orders before being able to truly assess whether that would be okay. As to how your estate might be affected, you need to either post this question in any wills, trusts, or probate section, or consult with an attorney who deals with these things. Generally this type of law does not fall into the realm of 'divorce' law.
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