Bill Summary

by Simmons  CS Sponsors: Budget Subcommittee on Criminal and Civil Justice Appropriations, Judiciary

Effect of Dissolution or Annulment of Marriage on Certain Designations; Providing that a designation made by or on behalf of a decedent providing for the payment or transfer at death of an interest in an asset to or for the benefit of the decedent's former spouse shall become void if the decedent's marriage was judicially dissolved or declared invalid before the decedent's death, if the designation was made prior to the dissolution or order; providing that payors are not liable for payments or transfers to beneficiaries contrary to this provision in certain circumstances; providing that certain provisions apply notwithstanding the payor's knowledge that the person to whom the asset is transferred is different from the person who would own the interest due to the dissolution of the decedent's marriage or declaration of the marriage's validity before the decedent's death, etc. Effective Date: July 1, 2012

   S Judiciary
   S Budget Subcommittee on Criminal and Civil Justice Appropriations