The Important of Beneficiary Designations – The case of Life Insurance paying to an Ex-Spouse

A recent California Case highlights the importance of making sure you review your estate plan and beneficiary designations every couple of years. The beneficiary listed on retirement plans and Life Insurance policies supersede anything your write in your Will or Trust. This was reinforced in a recent case where an Ex-Spouse received the life insurance proceeds of her former spouse after his death because he never took her name off of the policy, even though he wrote in his Will that he didn’t want anything to pass to her. Be sure to check your beneficiary designations to ensure they are up-to-date with your current intent.

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