Life Insurance for Non-Custodial Parent
I have a couple questions regarding life insurance for the non-custodial parent who is paying child support (no alimony). We live in California. My SO is about to sign up for a life insurance policy with his new company.
1) He would like to put his kids on there from his previous marriage, but he is afraid that if he does and he dies before they turn 18 that his ex-wife will receive the money. Is this true?
2) If so, he has asked me to be the sole beneficiary instead. Then he would like me to divide the money between the kids, after paying the burial costs, and only provide it to them once they turn 18. Is this a reasonable solution? Or will she be able to come after me for the life insurance money to make up for child support?
My SO does not have many assets. He has a 1990s Chevy, a few guns, and perhaps a few other things here and there. He doesn't have a 401K. I know that she could apply to receive checks from Social Security in the event of his death, but will she be able to come after me for the life insurance? Would it make a difference if we were married at the time of his death? Also, if we were married, could she come after my income for child support?