Less than ten years ago there was no such thing as divorce insurance. Today, several companies can provide it. This is for real. The intent is to provide for the costs of a divorce including legal bills, of course, but also the numerous attendant expenses associated with separating such as moving, setting up housekeeping and more.
Typically, a “Unit” or specific amount of coverage, costs between $15.00 and $20.00 per month and pays roughly $1.300.00. Ten units would pay $13,000.00 and cost under $200.00 per month. This money is paid to the insured party after the marriage ends legally and a claim is submitted.
Pre-Marital Agreements Are No Novelty
Well, this may make you wonder why spending two or three thousand dollars in premiums every year makes more sense than spending a one-time fee to write a prenuptial and/or post-nuptial agreement like the folks in Plano and Dallas have been doing for decades. In a much more practical and cost-effective sense, premarital agreements are divorce insurance.
Pre-marital and post-marital agreements make sense because they are written and agreed to by the couple, together; typically while the relationship is still pleasant. This allows the animosity of unpleasant divorces to be reduced before they occur. Another important aspect of pre-marital agreements is deciding who gets what based on the realities of the situation as it exists at the time of the agreement.
The better idea for protecting against the foreseeable: Forget the insurance and put your money into a good-faith prenuptial agreement. While nobody anticipates a painful end to the marriage while it is beginning, it is important for each spouse to protect against the unknown future.
If you would like more information on the benefits of a pre-nuptial or post-nuptial agreement contact an experienced Plano family law attorney.