Obtaining or Terminating Benefits After an Atlanta, GA Divorce
When going through a divorce, most of your attention will naturally go toward child custody and property division matters. Health insurance, life insurance, and other benefits are some of the issues that can be overlooked.
Talk to our skilled divorce attorneys about obtaining or terminating benefits after an Atlanta, GA divorce. Our team can help you negotiate continued access to certain benefits, when possible, and assist you in obtaining benefits through alternative means.
Health Insurance Is a Critical Issue
In Atlanta, if you have health insurance benefits through your spouse’s employer, they will terminate when your divorce decree is issued. It is essential to avoid a gap in your health insurance coverage.
If your employer offers health insurance, ask human resources about transferring to that coverage as quickly as possible. If there will be a gap before the next enrollment period, you may qualify for a group plan sponsored by a credit union, professional association, or alumni group. Our family law team can help you identify potential sources of health benefits coverage.
Your divorce settlement must include provisions for your children’s health and dental insurance, according to the Official Code of Georgia §19-6-15. The cost of this coverage is factored into the child support calculation.
Life Insurance Can Be Included in the Property Settlement
Life insurance is an excellent financial planning tool and a way to protect dependents and other loved ones. A life insurance policy is typically considered marital property, and its value must be divided in a divorce.
Spouses with life insurance typically name each other as primary beneficiaries. When one spouse receives child support or alimony, keeping them listed as the paying spouse’s life insurance beneficiary protects the recipient and the children if the paying spouse dies. Additionally, older people or those with health conditions may not be able to purchase new policies, so keeping an old policy makes sense in these cases.
Our Atlanta, Georgia attorneys will work with you to identify your needs regarding life insurance benefits after your divorce. They can negotiate a property settlement that provides the security of life insurance for you and your children.
What Other Benefits May Be Relevant?
Retirement savings—including employer-sponsored pension plans, 401(k)s, and 403(b)s—are subject to division in a divorce. Determining a fair split is often complex, especially when one or both spouses held accounts before the marriage. Our Atlanta, Georgia family law attorneys will make you aware of the tax implications of dividing retirement benefits in a divorce and ensure you are prepared.
If one spouse is a veteran, the other may receive spousal benefits such as healthcare, education, and career planning assistance. Additional caregiver support may be available if the veteran is disabled. Federal law prohibits the division of veterans’ benefits in a divorce, and spousal access terminates once the divorce becomes final.
Some executives and business owners have employment packages that include valuable perks. These can include tuition reimbursement, club and gym memberships, and wellness services. A property settlement or alimony arrangement can provide the other spouse with cash or benefits similar to those they will lose due to the divorce.
Consult an Attorney in Atlanta, GA About the Impact of Divorce on Benefits
A divorce is an opportunity for a fresh start. It is important not to overlook some of the benefits you had as a married person and ensure that you retain the most important ones when your divorce is finalized.
The Atlanta Divorce Law Group can help with obtaining or terminating benefits after an Atlanta, GA divorce. Contact our firm to discuss your concerns with a member of the team today.
