It is recommended that estate planning should be reviewed every three years if there has been a life changing event such as marriage, divorce, child born or death of a beneficiary. Even more important now is a Florida divorce. The impact of marital settlements that include a beneficiary designation of the wife that take affect prior to finalization may mean no benefits for the ex-spouse.
For anyone who dies after July 1, 2012, the Florida statute is effective and establishes that if the beneficiary designation is made prior to divorce finalization, the ex-spouse is classified as dying prior to the designator and the proceeds go to the next named beneficiary. Basically, the beneficiary designation to the ex-spouse under this scenario is void.
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