What changes automatically, and what may not
New York law automatically revokes many provisions in favor of a former spouse when a divorce is granted, including many in wills and beneficiary designations. That automatic change has limits. Employer retirement plans and group life insurance governed by federal law often pay whoever is named on the plan's form, and accounts governed by another state's law may be treated differently. A divorce agreement may also require you to keep a former spouse or the children as beneficiaries, for example to secure support. Jointly owned property, such as a home still titled to both of you, usually has to be dealt with under the divorce terms rather than through your will. Relying on automatic revocation alone leaves room for mistakes that surface at the worst possible moment.
Documents to pull together
Collect your will, any trust, powers of attorney, health care proxy, and every beneficiary designation, including retirement plans, life insurance, and bank or brokerage accounts with payable-on-death or transfer-on-death instructions. Compare them with your divorce judgment and settlement to see what you are required to maintain. Choose new fiduciaries, and new guardians for minor children where needed. While the divorce is still pending in New York, automatic orders generally restrict changes to certain beneficiary designations, so the timing of updates should be planned with counsel.
Planning around children and support duties
In an early review we read your judgment for any life insurance, trust, or beneficiary obligations and confirm your documents satisfy them. If you have minor children, we discuss how to leave assets so they are managed by someone you choose rather than passing outright to the children. We also talk about whether your plan should change because of new assets, a new relationship, or a move to another state. Updating takes far less time than resolving a dispute after a death. Bring copies of every current document and recent account statements.
