Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
A Florida decedent's life policy still named the former spouse as beneficiary, and the marriage was judicially dissolved years earlier. What is the effect?
Answer and explanation
Answer: A. Section 732.703 makes void, as of the time the marriage was judicially dissolved, a designation providing for payment at death to or for the benefit of the decedent's former spouse, and the interest passes as if the former spouse had predeceased the decedent. Leaving the designation in place does not preserve it, and the statute directs a substitute taker rather than splitting proceeds or defaulting to the estate.Source: Fla. Stat. § 732.703 — 732.703, Effect of dissolution of marriage
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