Recent Court Decision Highlights Why You Should Update Life Insurance Policies After A Divorce

The article is not a substitute for legal advice.

Many of you may not remember John McLaughlin the host of the long-running public affairs show The McLaughlin Group, for those that do not the video clip above will give you a taste of his show. McLaughlin passed away in 2016. Before passing away, Mr. McLaughlin had divorced Christina Vidal, his wife, in 2010. After this divorce, Mr. McLaughlin neglected to change two life insurance policies beneficiaries from his now-ex-wife to an immediate family member. In late 2017, the federal district court in D.C. ruled that his estate is the sole beneficiary of the life insurance policies. The outcome, in this case, was favorable to the estate, it is an important reminder that you need to update beneficiaries after important life events. Continue reading