Legal Question in Wills and Trusts in Illinois
Retirment
as my retirement beneficiary i have listed my wife from my first marriage. i want to change that to my previous wife. my company states that they cannot do that without my first wife's consent. our divorce paper does not state that she is to remain my beneficiary. what can i do?
1 Answer from Attorneys
Re: Retirment
The company's position is ludicrous! The retirement account is yours and you are free to name anyone you wish as beneficiary. Do not let them tell you otherwise. You absolutely do not need to notify or receive consent from the current named beneficiary. Good luck with this. If they continue to give you a hard time, you may want to have an attorney contact them. Just a caveat, beneficiary designations in general is an important piece of estate planning -- it may be a good time to review your estate plan.
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