What happens if my former spouse is still listed as my beneficiary on my life insurance or 401(k)?

It is important after a divorce to update your estate plans and designated beneficiaries so that your assets are being passed according to your wishes. However, if those changes are not made, New York law says that ex spouses listed as beneficiaries will be treated as though they have already passed away, so the assets pass to the next person in line.

Posted in: Elder Care & Estate Planning