QUESTION

Am I still be considered as the beneficiary of my ex wife’s will though, we were already divorced?

Asked on Jan 25th, 2012 on Estate Planning - Georgia
More details to this question:
Recently my ex wife passed away. Although we were divorced, we remained friends; however she did change her will and update/change her beneficiaries. She opened an annuity several years before our divorce (this money was from a pre-taxed retirement fund), my ex wife never changed me as the beneficiary. I was contacted by the financial organization stating that I was the beneficiary but they had been informed of our divorce. They told me that they needed to verify the correct beneficiary and want a copy of our divorce papers, specifically the pages that cover investments, savings, annuities, retirement plans. I have included the statements below from our divorce papers that cover savings/investments, etc. Can you tell me if I may still be considered the beneficiary? We were married in South Carolina, she moved to Georgia after separation and our divorce was finalized in Georgia. When she passed away she was a resident of South Carolina. SAVINGS AND INVESTMENTS (A) As an equitable division of property, the Wife shall be entitled to retain as her separate and sole property all individual retirement accounts, pensions and profit sharing plans, 401K plans, pension plans, investment accounts, retirement funds, and other savings and checking accounts listed in her individual name, as of the date of the execution of this agreement. (B) As an equitable division of property, the Husband shall be entitled to retain as her separate and sole property all individual retirement accounts, pensions and profit sharing plans, 401K plans, pension plans, investment accounts, retirement funds, and other savings and checking accounts listed in his individual name, as of the date of the execution of this agreement. IV. LIFE INSURANCE . The Husband and Wife shall each be entitled to retain the life insurance policies insuring their respective lives, inclusive of any cash surrender value of any such policies.
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1 ANSWER

If these are the only portions of your decree that pertain to the annuity, then yes, you do still have a claim. Ownership of the policy stayed with her, which includes the ability to change the beneficiary. If she did not choose to change the beneficiary designation, then it is still valid. Unless you somewhere agreed not to accept any benefits from that policy, you should be able to receive and keep the death benefit. If the insurance company receives any conflicting claims, they may decide to pay the proceeds into court, and let a judge decide. That would probably be done in SC, if that is where she died. You should file a claim and see how the insurance company responds.
Answered on Feb 17th, 2012 at 8:57 AM

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