Divorce? Change Your Estate Planning Documents!

July 9, 2018

Bottom Line Inc.

By: Gideon Rothschild

Divorce changes almost everything - so, how about your estate planning documents? A recent U.S. Supreme Court decision (Sveen v. Melin) is an important reminder of the need to attend to your estate planning documents upon divorce or even upon separation. In Sveen, the former husband had died, and the issue was whether the life insurance policy designation of his now ex-wife as beneficiary had been automatically revoked upon divorce. While most states have laws that automatically revoke the beneficiary designation of a now ex-spouse in a will, only about half the states automatically revoke the designation in non-probate assets such as life insurance and retirement plans.

To read more, click here.