Family Law

Family law questions? Ask a family lawyer online.

Ask a Lawyer,
Get an Answer ASAP!

The Judge overseeing my divorce in NJ ordered that my ex…

Customer Question
The Judge overseeing my divorce...
The Judge overseeing my divorce in NJ ordered that my ex maintain a life insurance policy with me as beneficiary to cover 1) alimony, 2) child support and 3) legal fees awarded me that he has not paid. Thereafter the Judge ordered the policy be put in my name because my ex kept cancelling it. Several months ago it was lowered from $500,000 to $350,000 (because alimony was lowered) and my ex motioned that instead of getting a new policy he wanted to keep the policy the same amount but have his girlfriend be made a cobeneficiary on the 30% it was lowered. the court granted his motion and told me to order change of beneficiary forms, which I did. Since I am the owner of the policy I since discovered that adding her as beneficiary could result in tax liability to me as owner of the policy if my ex dies before i do. It will be as if i am making a gift to her from what i have read. I was unaware of this at the time he made the motion to allow his gf to be added as a co beneficiary. What should I do to protect myself from potential tax liability?
Submitted: 4 months ago.Category: Family Law
Show More
Show Less
Ask Your Own Family Law Question
Answered in 5 minutes by:
3/21/2018
Family Lawyer: Legal Eagle, Lawyer replied 4 months ago
Legal Eagle
Legal Eagle, Lawyer
Category: Family Law
Satisfied Customers: 14,053
Experience: Licensed to practice before state and federal court
Verified

Hello! I am a licensed attorney, admitted to practice in state and federal court. I have a nearly 100% satisfaction rating (click here for more info) so all that means is that you can count on me to help today. Because I want to provide you with the most accurate answer possible, do you mind if I take a moment to review your question?

Please keep in mind that our conversation does not include an attorney-client relationship and this is for general information purposes only.

Ask Your Own Family Law Question
Family Lawyer: Legal Eagle, Lawyer replied 4 months ago

This is a highly unusual circumstance. Could you tell me what information you've found that would suggest that if you add a beneficiary that increases your tax liability? Is this because you would technically be making a gift to her?

Ask Your Own Family Law Question
Customer reply replied 4 months ago
Is there any way to send you the article I found that warns me of this
Family Lawyer: Legal Eagle, Lawyer replied 4 months ago

I see what you mean. So, if the court has ordered that you give her this money, then this money won't be classified as a gift. The money is going to be given pursuant to the court's order, then it's not going to be considered income and not going to be considered a gift either. As a result, this is not something you have to pay on your taxes. A gift is something that you give on your own free will on your own according. Since this is ordered from the court, then it won't be taxable.

What other questions did you have for me today that I can help you out with:-)?

Ask Your Own Family Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a family lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Ely Your Own Question
Ely
Ely
Ely, Counselor at Law
Category: Family Law
Satisfied Customers: 11,971
11,971 Satisfied Customers
Experience: Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

Ely is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it.

LeeMichigan

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

< Previous | Next >

Meet the Experts:

Ely

Ely

Counselor at Law

11,971 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

LawTalk

LawTalk

Attorney and Counselor at Law

9,034 satisfied customers

30 years legal experience. I remain current in Family Law through regular continuing education.

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

7,856 satisfied customers

I provide family and divorce law advice to my clients in my firm.

P. Simmons

P. Simmons

Lawyer

3,624 satisfied customers

16 yrs. of experience including family law.

Barrister

Barrister

Lawyer

3,607 satisfied customers

Attorney with 17 years experience

RobertJDFL

RobertJDFL

Lawyer

3,019 satisfied customers

Experienced in multiple areas of the law.

ScottyMacEsq

ScottyMacEsq

Lawyer

2,828 satisfied customers

Licensed Texas General Practice Attorney

< Previous | Next >

Related Family Law Questions
My husband divorced his ex-wife years ago and is still
Hi, My husband divorced his ex-wife years ago and is still paying alimony. There was a future waiver in the divorce decree, so hopefully, his ex won't ask for anything more than what she got. I do hav… read more
Jessica B
Jessica B
Juris Doctor
1,658 satisfied customers
I need to know if husband dissipated marital residence. He
For LucyI need to know if husband dissipated marital residence. He claimed loss of $350,000. He told me that did not pay mortgage because bank did not gave us better mortgage. My lawyer said, he did n… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
My exhusband owes me supplemental alimony, ordered in our
My exhusband owes me supplemental alimony, ordered in our original divorce MSA. He claims he has no money and that his company, Morgan Stanley, is taking all of his compensation towards taxes he owes … read more
Andrew
Andrew
Attorney
Juris Doctorate
368 satisfied customers
If I am paying alimony to an ex wife who is on permanent
If I am paying alimony to an ex wife who is on permanent disability due to back surgery, can I move from NJ to PA to move in with my girlfriend and if I get a new job and I make less do I still have t… read more
Dwayne B.
Dwayne B.
Juris Doctor
28,766 satisfied customers
I signed a divorce agreement 3 years ago I was under the
I signed a divorce agreement 3 years ago I was under the influence of medication Xanax I deal with panic and anxiety disorder and my lawyers screw me over I trusted them they went against me in the en… read more
Dwayne B.
Dwayne B.
Juris Doctor
28,766 satisfied customers
I am allowed to make no more than $30,000 before I lose my
I am allowed to make no more than $30,000 before I lose my $48,000 year alimony. If I sell my house for a $100,000 profit will that affect me losing my alimony? My divorce Decree states - "The parties… read more
S. Kincaid
S. Kincaid
Doctoral Degree
2,404 satisfied customers
My husband's ex-wife makes m carry a $500,000 life
My husband's ex-wife makes him carry a $500,000 life insurance policy (which costs close to $20,000 a year). She is the sole beneficiary of the policy. Are we able to deduct that premium as alimony to… read more
ScottyMacEsq
ScottyMacEsq
Lawyer
Doctoral Degree
2,828 satisfied customers
In my divorce decree it says the defendant shall maintain s
In my divorce decree it says the defendant shall maintain his 2 life insurance policies in the amount of $500,000 and $50,000 and keep plaintiff as beneficiary on both policies" this is how it reads v… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
NJ - My exhusband is applying by court motion to reduce my
NJ - My exhusband is applying by court motion to reduce my alimony and child support due to what he calls reduced income. His income is commission based and has always fluctuated. In our MSA, he is al… read more
Maverick
Maverick
Doctoral Degree
6,288 satisfied customers
Question about filing an appeal for a family court trial in
Question about filing an appeal for a family court trial in Massachusetts: I was divorced in January of 2013. After a few months, I found out that my ex-wife and had under-reported her income and I ha… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
Two questions. 1. Does overtime get calculated into spousal
Two questions. 1. Does overtime get calculated into spousal alimony payments. Since overtime is not guaranteed? Ex: I work on Fire Department and overtime is not guaranteed in fact it's non-existant a… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
I was divorced (in NJ) in 2009 an awarded permanent Alimony.
I was divorced (in NJ) in 2009 an awarded permanent Alimony. I am on permanent disability and receive 11k annually from that. At the time of the divorce my imputed income was 20k and my Ex's salary wa… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
I WENT TO FAMILY COURT FOR A DOWNWARD MODIFICATION ON A SUPPORT
I WENT TO FAMILY COURT FOR A DOWNWARD MODIFICATION ON A SUPPORT ORDER I HAD...WE WENT IN FRONT OF AN ARBITRATOR WHO CAME UP WITH A FIGURE WHICH THE RESPONDENT DIDNT AGREE TO....WE WENT IN FRONT OF THE… read more
JPEsq
JPEsq
Attorney
Doctoral Degree
5,086 satisfied customers
My ex-husband is currently very ill and is not expected to
My ex-husband is currently very ill and is not expected to live much longer. I collect permanent alimony which I know will end upon his death. He has no life insurance. But he has me listed in his wil… read more
Stephanie O Joy, Esq
Stephanie O Joy, Esq
Managing Lawyer/Advocate
Doctoral Degree
3,288 satisfied customers
I live in Fl and have a divorce decree from NJ, where I lived
I live in Fl and have a divorce decree from NJ, where I lived for 15 yrs after the divorce. My ex lives in NY and I am probably going to have to take him back to court since he owes me lifetime alimon… read more
Lawrence D. Gorin
Lawrence D. Gorin
Attorney at Law
J.D. (Juris Doctor)
46 satisfied customers
I want appeal a child support modification order. the non custodial
I want appeal a child support modification order. the non custodial parent requested a modification and the judge granted it because I could not show proof ex had income other than his secretary of st… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
I live in Florida. My ex-husband has asked me to sign 2 papers.
I live in Florida. My ex-husband has asked me to sign 2 papers. One is for the reduction of child support. He was paying for 3 kids and 2 are now over 18. We agreed on the reduction after the 1st grad… read more
Legalease
Legalease
Attorney At Law
Doctor of Law w/ highest honors
15,719 satisfied customers
My ex-husband has not made his alimony payments and I am trying
My ex-husband has not made his alimony payments and I am trying to collect past alimony payments. I wasn't sure if there is way that the court can garnish his wages or anything else can be done to for… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x