I married in 1995 and gave birth to two girls. During this marriage, their father and I each purchased separate term life insurance policies on each other. I owned the term life insurance on their father and I was beneficiary of this policy and vice versa for their father. This marriage officially ended in 2006. I maintained the term policy on their father. I remarried in 2007. In 2015, their father died and the term life insurance distribution was paid out to me, which I put in an individual account. My current husband assumes this is marital property. My estate attorney informed me it is not marital property, especially if term insurance was started prior to my current marriage and policy payments were paid from a separate individual account, which it was. This individual account was funded by sources including child support. I understand child support is not marital property.
I separated from my current spouse in January.
Are these funds marital property?