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Daily Archives:Wednesday, August 5, 2015

Divorce Doesn’t Automatically Change Designated Beneficiaries

August 5, 2015

Birth and death. The two defining moments that mark the beginning and end of life. But many other events can happen between those two events that can have life-changing consequences. Marriage and divorce are two of those. With this in mind, the Florida legislature is taking steps to help avoid some of the estate planning pitfalls that can arise.

Here’s a common scenario: on the happy occasion of a marriage, the new husband takes out a life insurance policy on himself with his new wife as the beneficiary….