First, I would consult an attorney in Texas to find out how Life Insurance is treated when there is a divorce. Generally speaking from my experience as a divorced father, Life Insurance is not an issue unless there is cash value which can be withdrawn. And if the Life Insurance was purchased during the marriage. If it was purchased prior, then it most likely would not be an issue.
I know this is vague, which is why I recommend consulting an attorney in Texas.
Under normal or ordinary circumstances, life insurance is community property in Texas - especially the cash value of any permanent or semi-permanent policy.
Any reputable life insurance company will require a multiple ownership document to be signed by the two spouses if the owner/payor/insured is married at the time of the purchase.
I have dealt with this several times where the companies I place business with require this documentation so they are not caught in a divorce proceeding with he said, she said. The document covers their liability for issuing the policy.
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I know this is vague, which is why I recommend consulting an attorney in Texas.
Any reputable life insurance company will require a multiple ownership document to be signed by the two spouses if the owner/payor/insured is married at the time of the purchase.
I have dealt with this several times where the companies I place business with require this documentation so they are not caught in a divorce proceeding with he said, she said. The document covers their liability for issuing the policy.