Prevent Ex-Spouse From Inheriting Assets

After over 30 years working with annuities and universal life at Neasham Insurance Agency, I’ve seen how often folks overlook beneficiary updates after a divorce. While a finalized divorce can revoke some will provisions for an ex-spouse, this protection rarely applies during a separation. It’s important to remember that your will only dictates assets held solely in your name without a designated beneficiary. Bank accounts, retirement plans, investment accounts, annuities, pensions, and life insurance can still pass directly to an ex-spouse if beneficiary forms aren’t updated—regardless of what your will says. Living trusts offer added control and can help manage assets during incapacity, but they, too, need a careful review after divorce. Always double-check divorce orders before making changes, since some agreements or employer plans may require keeping an ex as a beneficiary due to federal regulations. After divorce, prompt updates to wills, beneficiary forms, and trusts are key to ensuring your assets end up where you intend. Consulting an attorney can help you keep everything in line with your wishes.