06/25/2013

The U.S. Supreme Court Decision Regarding Beneficiary Designations After Divorce.

One June 3, 2013, the U.S. Supreme Court issued its unanimous decision in the Hillman v. Maretta case.  http://supreme.justia.com/cases/federal/us/569/11-1221/

In that case, a Virginia statute was challenged wherein beneficiary designations could be changed to the current spouse if a decedent named an ex-wife as the beneficiary. 

The Supreme Court ruled that beneficiary designations cannot be modified after death to reflect the name of the current spouse.

Thus, the lesson here is that individuals must remember to change their beneficiary designations after divorce.