At Sweeney Law Offices, LLC, we are committed to maintaining the highest level of client care while balancing the health and safety of our clients. Per the various orders of the Governor of Pennsylvania and Pennsylvania Supreme Court, until April 30, 2020, Sweeney Law Offices, LLC will remain open remotely, we will be available to communicate with clients via telephone and, if necessary, video calls. We will have regular access to email, fax and U.S. Mail. Although our office location will be generally closed to the public, we have set up a drop box outside of our door, which will be checked daily, so that clients who do not have access to email or facsimile can continue to provide important documents to our office. Please note that we will also continue to accommodate the needs of new clients, who are welcome, and as always we encourage and appreciate referrals. During this uncertain and unprecedented time, please stay safe and remember that Sweeney Law Offices, LLC will remain by your side for all of your family’s legal needs.

Let Our Family Help Your Family

Life insurance for estate planning and divorce

Going through a divorce in Pennsylvania can be stressful. It can put a strain on a person’s mental, emotional and financial state. Some of the stress of divorce is unavoidable as it is a process that impacts nearly every area of a person’s life. It is possible, though, to mitigate some of the stresses, especially those that are related to finances. People who are considering or going through a divorce might reduce the financial burden by using life insurance.

Life insurance can be an effective tool for estate planning regardless of the person’s marital status, but it can be especially effective for people who are divorced or divorcing. People who have established insurance policies can use the funds to make withdrawals or loans to cover expenses related to the divorce, which might stretch on for months or years. A life insurance policy can also be used to protect the person’s income once the divorce is finalized. A policy taken out on the ex-spouse who pays alimony can protect that income for the other spouse.

A life insurance policy can also be used to pay off debts, preventing the person from having to liquidate assets to cover them. If the policy is set up properly, there may be no tax consequences to withdrawing funds. For estate planning, a life insurance policy can provide peace of mind that any inheritance for children is also protected.

People who have questions about divorce or estate planning in Pennsylvania might want to speak with an attorney. An attorney who practices estate planning and probate law may be able to help by examining the client’s circumstances and suggesting instruments like a will, trusts, powers of attorney or life insurance policies. With a bit of planning, the client may be assured that his or her loved ones will be taken care of after death.


FindLaw Network