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About Family Law Attorney- Tiffany Fina Law Firm

Family relationships are more often than not, very rewarding and beneficial to all concerned parties such as couples, their children and even their relatives. This can be clearly seen when it comes to deal with the natural human instincts almost everybody needs such as amicable companionship, acceptance and even the sense of belonging.

However, family life is not always rosy and blissful, and there often comes a time in relationships like marriage, where the involved parties become estranged, and either of them might wish to bring it to an end. This is where family law comes into play. Tiffany Fina Law Firm

This happens to be an indispensable component of law that concerns itself with dealing with the issues that can occur in family life. Which is usually geared to effect if not an amicable, a final resolution into the issues that might crop up in such relationships.

Naturally, in such scenarios there are diverse complex issues that need to be addressed, particularly in divorce. These include fair division of assets, custody and visitation rights, in cases where a marriage has produced offspring, spousal and child support and a horde of other issues that need to be resolved.

In such cases both parties are legally permitted to enlist the help of suitable family law attorneys who can effectively represent them in these matters. Which in nature happen to be intricate, protracted, and necessitating a high level of familiarity into the workings of family law. This as most informed individuals might know, invariably greatly differs from one legal jurisdiction to the other.

It is thus extremely prudent for individuals who wish to take any legal action pertaining to their family affairs to find time to obtain the aid of competent and experienced family law attorneys. These professionals happen to be well versed in family law, and can make a huge difference in assisting their clients obtain the satisfaction they need. While also more to the point, avoid the sometimes traumatizing and nasty situations that arise when it come to issues like divorce.

Some of the areas that fall under the expertise of these lawyers include:

-Divorce

This happens to be the most common issue most family law attorneys routinely resolve. For the most part they can assist couples wishing to terminate their marriage, settle crucial issues. These include division of assets, crafting and the execution of prenuptial and postnuptial agreements, custody rights, and even spousal and child support.

In such cases both parties are encouraged to seek out of court negotiations for the benefit of all concerned persons. Family law attorneys are highly skilled in the art of counselling and conflict resolutions, which in most cases should be enough to reach an amicable concession on what each party gets from their failed marriage.

However, if this isn’t forthcoming, these professionals can initiate the litigation process, which brings a court of law judge into the picture. Such a magistrate usually arbitrates all the unresolved issues pertaining to marital unions and their dissolution.

-Children related issues

On the other hand, family law attorneys can also play an influential role in the handling of issues related to children affairs and their wellbeing. These can naturally include children issues that arise from the separation or divorce of their parents. Or other factors like assisting couples who wish to adopt children through the its legal workings, termination of parental rights, and any other related issue.

Absolute Insurance Basics

Let’s be honest. The topic of life insurance isn’t exciting or glamorous, but it is important. In fact, many experts consider life insurance to be the cornerstone of good financial planning. Absolute Insurance

But how do you know if you need life insurance? How much is enough? What kind of life insurance policy is best for you?

Answering these basic questions about life insurance will help to simplify the shopping process and ultimately allow you to select the best policy to secure your family’s future for years to come.

Establishing Your Needs

To clear up any misconceptions, life insurance is designed to protect your loved ones from financial loss in the event of your death. Knowing this, it’s important to establish whether you need life insurance and how much you should purchase.

According to MetLife you generally need life insurance if:

You have a spouse
You have dependent children
Relatives or elderly parents depend on your income
Your retirement funds are not enough to provide for your spouse’s future
You own a business
You have a large estate
The beneficiaries of your life insurance policy can use the proceeds from your life insurance to:
Pay for last expenses and funeral costs
Cover estate taxes (if applicable)
Pay off existing debts (mortgage, car loan, credit card debt)
Pay for everyday expenses (food, clothing, childcare)
Put towards your spouse’s retirement fund
Donate to charity
If you don’t have dependents, you may still wish to purchase a life insurance policy to avoid becoming a financial burden to your loved ones in the untimely event of your death. Young singles also benefit from purchasing life insurance while they’re young and healthy, allowing them to secure a low premium for years to come.
Choosing a Dollar Amount

Figuring out how much life insurance your loved ones would need to maintain their quality of living can be tough. Generally speaking, experts recommend purchasing between 5 and 10 times your annual salary. But, as MetLife points out, your exact need for life insurance will depend on your personal and financial circumstances.

You can get a ballpark estimate of your life insurance needs by first totaling the funds your family would need for the abovementioned items (funeral costs, daily living, etc.). You can find helpful worksheets online that will help you organize and come up with this list of expenses.

After you’ve totaled your expenses, take stock of the funds you have in cash, savings, retirement accounts, bonds, property, pension and Social Security. Subtracting your financial resources from your expenses will give you a rough idea of how much life insurance you should purchase.

When it comes to choosing how much life insurance to purchase, it’s a good idea to get an idea of your needs before buying a policy–but your licensed life insurance professional will undoubtedly help you choose a dollar amount that accurately reflects the needs of your beneficiaries.

Selecting a Policy

Generally speaking, there are two types of life insurance: term life insurance and permanent life insurance. The type of policy you select will depend largely on your life insurance needs and what resources you have to pay life insurance premiums.

Term Life Insurance

Term life insurance, as the name suggests, will cover you for a specified amount of time, which means the insurer will only pay out a death benefit if you die during the term of your policy.

According to the Insurance Information Institute (I.I.I.), most people purchase a 20-year term policy, although smaller terms are available. Of course, you can renew your term life policy after it expires, although your premiums may increase as you age. But all in all, because of the “temporary” nature of term life insurance, policies are generally much cheaper and are therefore an attractive option for young people and families with a limited income.

Permanent Life Insurance

On the other hand, permanent life insurance, as you might have guessed, is permanent. A permanent life policy will pay out a death benefit whether you die tomorrow or in 60 years.

Permanent life insurance is also an appealing option for many because of the added benefit of the policy growing on a tax-deferred basis, which can grow to be fairly large over time. As a policyholder, you may be able to borrow against this cash value while alive, which has been of great help to some. Of course, most loans need to be paid back otherwise they will be subtracted from the death benefit, and your beneficiaries may have to liquidate assets to pay back the loan.

Nonetheless, permanent life insurance offers a wide variety of saving and investment options. Because of this, policies are generally more expensive than term policies, which may be hard for young adults to handle.

Your life insurance professional will help you decide which type of policy is best for your life insurance needs–and your budget. But researching these policy types beforehand can help you narrow down which policies appeal to you.