Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
A Florida decedent's plan benefit names a former spouse, and controlling federal law directs otherwise than section 732.703 would. Which prevails?
Answer and explanation
Answer: D. Section 732.703 states its voiding rule subject to exceptions, the first of which applies where governing federal law provides otherwise. Domicile in Florida and the payable-on-death character of the asset do not displace that exception, and the statute directs a substitute taker rather than sending the benefit to the estate.Source: Fla. Stat. § 732.703 — 732.703, Federal law and governing law exceptions
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