Article On Life Insurance And Retirement Plan Benefits

Albert Feuer (Law Offices of Albert Feuer) recently published an article entitled, Life Insurance and Retirement Plan Benefits: Are Your Clients Achieving Their Intended Goals?, NYSBA J. 28 (March/April 2016). Provided below is an abstract of the article:

A substantial part of the assets of many individuals consists of benefits from life insurance and retirement plans (collectively “plan benefits” and “plans,”respectively). As an individual’s family, friends, and preferred charities change, the intended goals of the individual with respect to the disposition of his or her probate assets and his or her plan benefits may change. Individuals, may not rely on many of the traditional rules of construction for probate asset dispositions to conform their designations to their intended goals, particularly as those goals change. This is particularly the case for benefits from ERISA plans and for plans for federal employees that are not governed by those state rules.