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Until the matter of child and spousal support is dealt with, you cannot assign a new beneficiary to your life insurance policies. This is because one’s support obligations are binding upon one’s estate, and if it turns out that you will be the payor of either or both of child and or spousal support, the recipient spouse needs to remain the beneficiary of a sufficient quantum of life insurance proceeds to cover the support that is payable.

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Toronto

4211 Yonge Street • Suite #210 • Toronto • Ontario • M2P 2A9

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Aurora

16 Industrial Parkway South • Aurora • Ontario • L4G 0R4

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Barrie

500 Mapleton Avenue, Suite A • Barrie, Ontario • L4N 9C2

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100 King Street West • Suite #5600 • Toronto • Ontario • M5X 1C9

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4257 Sherwoodtowne Blvd Suite #300 • Mississauga Ontario • L4Z 1Y5

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