Beneficiary Forms - The Final Word

By Melinda Gustafson Gervasi
Yet again, here is another case that reiterates, what is on a beneficiary form controls. The facts: women names husband on retirement account, couple later divorces, she never removes his name, then she dies. Her mother and son filed suit, seeking to recover under the plan. The court said no, the beneficiary stands, her ex-husband inherits. Stories like this are the reason I routinely instruct my clients to review beneficiary forms (life insurance, retirement, etc.) to make sure they are up-to-date.

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