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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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Old 11-03-2011, 03:56 PM
BeenThereTwice BeenThereTwice is offline
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Default QUESTION: LIFE INSURANCE in Ontario

Curious.. In Ontario, where in the law does the responsibility to maintain life insurance on my life arise so that CS and or SS to EX can be maintained after death? Anyone know the statute? Reference?
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Old 11-03-2011, 04:23 PM
shellshocked22 shellshocked22 is offline
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My research suggests while anything is possible, courts generally won't order you to buy NEW insurance. Indeed, depending upon your medical conditions you may not even qualify for it !

However, existing policies can be ordered to be retained.

My understanding is that if the life insurance is not enough (or not in place) then any outstanding SS and CS owing at your death (if you are rude enough to die early lol) can be collected from the estate ! Even death is no escape in this evil game !

When looking at insurance, be sure you know what the long term costs are. For example, some policies might increase dramatically in the future, make sure you know all this. Most lawyers think they understand non-legal issues when they really don't have a clue.
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Old 11-03-2011, 04:36 PM
BeenThereTwice BeenThereTwice is offline
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Default Answering my own question

From PLISKEVICIUS and L’HOMME 2011 ONSC 6102

27. Under s. 34(1)(i) of the Ontario Family Law Act (“FLA”), the court has jurisdiction to order a spouse who has an existing life insurance policy to irrevocably designate a child the beneficiary: R.S.O. 1990, c. F. 3.
28. However, the issue of whether a court has jurisdiction to order a person to obtain a new life insurance policy is somewhat more complex. Section 34(1)(k) of the FLA, supra gives the court jurisdiction to make an order requiring the security of payment under the order by a charge or property or otherwise. Section 12 of the provincial Child Support Guidelines, O. Reg. 391/97 provides that the court may require in the order for child support that the amount payable under the order be paid or secured, or paid and secured, in the manner specified in the order. Section 15.1(4) of the Divorce Act, supra enables the court to order the payment of child support upon such terms, conditions or restrictions as the court thinks fit and just. Section 12 of the Federal Child Support Guidelines is identical to the same section of the provincial Guidelines noted above (S.O.R. 97-175).
29. In Laczko v Laczko, the Superior Court of Justice held that subsection 34(1)(k) of the FLA is sufficiently broad in scope as to give the court jurisdiction to order the purchase of a life insurance policy for the purpose of securing child support payments: 176 D.L.R. (4th) 507, 1999 CarswellOnt 2106

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Old 11-16-2011, 09:43 AM
torontonian torontonian is offline
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Sorry for bumping an old thread - but what about life insurance to maintain SS?? Your answer covers CS only... Anyone??
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