Life insurance, retirement accounts, and transfer on death arrangements pass by designation outside the will. Disputes involve capacity, undue influence, improper change procedures, and conflicting divorce or settlement obligations.
ERISA preempts state law for qualified plans.
Alternative Names:
Designation Dispute|Payable on Death Designation Dispute
Why it Matters?
ERISA preemption controls qualified retirement plans, which means the plan document and designation on file govern regardless of state law revocation-on-divorce statutes or contrary settlement agreements, and Egelhoff and Kennedy confirm that plan administrators follow the designation. A former spouse who remained designated receives the benefit, leaving the intended beneficiary to pursue a separate claim against them where state law permits.
Frequently Confused with
Related terms
Frequently asked questions
Does divorce revoke a retirement designation?
What recourse remains?
