A recent article on MSN.com detailed a new company, based in North Carolina, that is now offering divorce insurance. For $16 per month, you can get divorce insurance that will pay for $1,250 of your family law case. The article delves into whether or not it makes financial sense to get divorce insurance, based on the particular terms of the policy.
A person can purchase up to 200 "units" of divorce insurance for a total of $250,000 to be used for attorney's fees in your divorce case. The main problem that I see with divorce insurance is the incentive to spend a great deal of money on your divorce case. If the funds from your divorce insurance policy have to be used towards attorney's fees, wouldn't that ensure that parties spend a great deal of money on their divorce? If parties truly want to avoid a costly divorce, perhaps an uncontested, flat fee divorce is a better option. Uncontested divorces help reduce the total amount of litigation and cost to both parties.
Contact your expert Tampa family law attorney if you have any questions about uncontested divorce.