Update beneficiary designations on insurance, retirement plans, and other accounts


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Most married couples designate their spouse as the beneficiary on their life insurance policies and retirement plans. Similarly, they may have designated their spouse as the “payable at death” party in banking and investment accounts.

In some states, these designations are automatically voided once a divorce becomes final. In others, the designations remain until changed. In either case, you will want to ensure that your designations are in keeping with your wishes after divorce.

The following resources may assist you in updating beneficiary designations on insurance, retirement plans, and other accounts:

Estate Planning: The Basics

Inheritance Rights

Beneficiary Designations and Estate Planning After Divorce

Beneficiary Designations

Taking Care of Financial Issues After Divorce


Divorce Tasks

1. Dividing assets and debts
2. Revising your spending plan
3. Managing your health care plan
4. Managing continuing financial arrangements with an ex-spouse
5. Protecting your loved ones financially if you were to die

Protecting your loved ones financially if you were to die Subtasks

1. Life insurance after divorce
2. Update beneficiary designations on insurance, retirement plans, and other accounts
3. Write a new will
4. Designate who will make health care and financial decisions for you should you not be able to do so for yourself

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