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How much life insurance should you OWN on your ex-spouse?

Please do not enter commas when completing the fields below:
(This calculator is meant to give you an idea of the amount of insurance that would help protect your family in the premature death of a child support paying ex-spouse or domestic partner. Please contact us for a more thorough assessment of your situation to determine the amount and type of insurance that would be best for you.)

Step 1. Evaluate Your Income (Spousal Support)
What is your current (or proposed) yearly Spousal Support

$

How many years will you receive that support:
*Through the age of child rearing or through your lifetime?

 

Income received from investments:
* Rental properties, dividends, annuities, etc.

$

Liquid assets:
* All assets that can be turned into cash within 3 months
(We recommend not liquidating retirement accounts due to tax penalties)

$

Amount of existing life insurance:

$

Step 2. Evaluate Your Debts and Expenses

Outstanding mortgage balance (house your children live in):

$

Outstanding loans (incurred during the marriage):

$

Final expenses (Medical, Funeral) :

$

Step 3. Evaluate Your Child Support and College Expenses

* For planning purposes we suggest an yearly college tuition of $20,000 to $25,000 per year, in today's dollars, per child.
Child: Monthly Child Support Payments Number of years until child reaches age 18: College Expenses:
1 $ years
2 $ years
3 $ years
4 $ years
5 $ years

Additional Recommended Life Insurance: $

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