The Supreme Court came to a unanimous decision earlier this year, stating that records need to be updated after a divorce to change the beneficiary of a 401(k) plan.
If you do not change your beneficiary after the divorce, your former spouse will receive your 401(k) benefits and possibly life insurance benefits even if he or she has agreed to give up the rights to those benefits.
If you are considering divorce, contact the Raleigh divorce lawyers of Marshall & Taylor, PC at 919-833-1040.