It All Goes To?
Take another look at beneficiary designations
May 1, 2014
Financial advisor Gregory DeJong recalls once making small talk over the kitchen table with a woman while her husband went to retrieve a life insurance policy from their file. After a surprisingly long delay, he returned, red-faced with embarrassment. He had just realized his ex-wife remained the sole beneficiary on his only life insurance policy, more than a decade after their divorce.
"You'd think removing an ex-spouse beneficiary would be a no brainer," DeJong, CFP and financial advisor for Naperville's Savant Capital Management, says. "But in the turmoil surrounding the typical divorce... (click link below to read full article)