The Importance of Life Insurance Clauses

This case of the Ontario Superior Court of Justice signifies the importance of life insurance clauses in Separation Agreements and a lawyer’s role in implementing same. Generally, in order to be effective, a life insurance clause in a Separation Agreement must first be put in place and then actually designate one spouse as an irrevocable beneficiary. Without the aforementioned in place, there is no point in having a life insurance clause as proposed security for support.
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