Enforceability of Life Insurance Provisions

Enforceability of Life Insurance Provisions
MCL 552.101(2)–(3) states that a divorce judgment or separate maintenance order shall determine all rights of the husband/wife in and to the proceeds of any policy or contract of life insurance, endowment or annuity upon the life of the other spouse, if he or she was named or designated as beneficiary. If the divorce judgment or separate maintenance order does not determine the rights of the divorced spouse to a policy of life insurance on the other, the policy shall be payable to the estate of the decedent or to the named beneficiary if the decedent has designated.
Parties who wish to be able to enforce an agreement to use life insurance to secure support or payment of property settlement debts should include language in the divorce judgment specifically stating the terms of the agreement and re-affirming the right of the recipient spouse to be named as a beneficiary of the insurance policy. WWW.ATTORNEYBANKERT.COM

MIDLAND BANKRUPTCY AND DIVORCE

IS YOUR CASE IN THE EASTERN DISTRICT OF MICHIGAN BANKRUPTCY COURT? BANKRUPTCY FLINT / BAY CITY ,ATTORNEY POSTING BY Flint / Bay City Bankruptcy Attorney Terry R. Bankert 810-235-1970. Flint /BAY CITY Bankruptcy lawyer Terry R. Bankert , http://www.attorneybankert.com If you have bankruptcy questions call today 810-235-1970 this article presented in a SEO format. 1. Federal District Courts §1.4 The jurisdictional provisions in the Bankruptcy Amendments and Federal Judgeship Act of 1984 (the 1984 amendments) resolved a constitutional problem (see Northern Pipeline Constr Co v Marathon Pipe Line Co, 458 US 50 (1982)) with the status of bankruptcy judges. These provisions, which are contained in 28 USC 1334, grant to federal district judges the power to administer bankruptcy cases and all civil proceedings connected to them. Thus, the district court is granted original and exclusive jurisdiction over all bankruptcy cases. 28 USC 1334(a). The district court is also granted original, but not exclusive, jurisdiction over all civil proceedings “arising under,” “arising in,” or “related to” bankruptcy cases. 28 USC 1334(b). However, the district court may abstain from deciding these civil proceedings “in the interest of justice, or in the interest of comity with State courts or respect for State law.” 28 USC 1334(c)(1). Finally, the district court is granted exclusive jurisdiction over all property of the debtor and property of the estate, wherever that property is located. 28 USC 1334(e).