Friday, February 4, 2011

Divorce Insurance

Family First: Be Ready if I Do's Become I Don't

Michelle Quesada

The last thing on your mind when you're dress shopping for the perfect wedding gown is that your marriage may have an expiration date, but there are ways to guard yourself against disaster.

Many couples look into prenuptial agreements before getting married, but they don't cover expenses in the event of a divorce. Now you can actually purchase divorce insurance as a solution. Chairman and CEO of Safeguard Guaranty John Logan created Wedlock Divorce Insurance after he realized there was a need for it.

"I went through a world class ugly divorce myself about 10 years ago, 11 years ago now and after everything was set and done I looked around and said to myself 'well, gee whiz, I can't be the only person this has ever happened to because I was next to broke, I was about to lose my home, and I couldn't believe after paying the attorney so much money that I was in worse shape than I ever thought i would be in," says Chairman and CEO of Safeguard Guaranty Corporation, John Logan.

Policy holders pay a monthly premium of 15.99 per unit - each unit covering 1250 dollars. In order to make a claim you have to be a policy holder for 48 months. Studies show that divorce can reduce the average person's wealth by 77 percent and 44 percent of families go below the poverty line.

Divorce attorney Morris Carr says the cost of divorce can range anywhere from one-thousand to 100-thousand depending on issues of substantial assets or custody. He says pre-nups may not be for everyone but talking about these issues before marriage can be beneficial.

"It may take a romance out of an engagement but the fact is you need to sit down with your future spouse and you need to take a look at each others debts, your liability, your asset and your future plans, retirement plans things like that," says Morris Carr, Management Partner at Carr Downey Attorneys at Law.

And most marriage counselors agree that addressing issues early on can save a marriage.

Although statistics may look scary talking to a pastor or premarital counselor may ensure that your perfect day is the beginning of forever.

If you'd like to learn more about WedLock Divorce Insurance look under our news links tab.

This article may be found at the following address:

http://www.newscentralga.com/news/local/Family-First-Be-Ready-if-I-Dos-Become-I-Dont-115324229.html

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