Legal Question in Wills and Trusts in New Jersey

Retirement accounts

Married couple, one employed, one disabled. Disabled spouse 1 has a Retirement Annuity, with spouse 2 as beneficiary. Couple divorces. In Property settlement, Spouse 2 signs agreement to forgo any claim on retirement accounts. Spouse 1 never gets around to changing beneficiary form. At death of Spouse 1 (5 yrs after divorce), ex-spouse 2 is specifically mentioned in the will ($1.00 and nothing more).

Which documentation applies: retirement beneficiary form or divorce decree?


Asked on 2/13/07, 10:50 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Retirement accounts

WHILE TRADITIONALLY, THE BENEFICIARY DESIGNATION CONTROLS, IT WAS DEEMED CHANGED BY THE DIVORCE DECREE, WHICH SHOULD OVERRIDE. THIS MIGHT NECESSITATE SOME ATTORNEY ASSISTANCE TO CORRECT THE MATTER. IT COULD BE ARGUED THAT THE FAILURE TO CHANGE THE FORM LEFT IT INTACT, SO ANTICIPATE POSSIBLE LITIGATION, DEPENDING ON WHO ELSE THERE MIGHT BE NAMED IN THE WILL.

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Answered on 2/13/07, 3:39 pm


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