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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 23. (a) If, after an owner makes a beneficiary designation, the owner's marriage is dissolved or annulled, any provision of the beneficiary designation in favor of the owner's former spouse is revoked on the date the marriage is dissolved or annulled. Revocation under this subsection is effective regardless of whether the beneficiary designation refers to the owner's marital status. The beneficiary designation is given effect as if the former spouse had not survived the owner.
(b) Subsection (a) does not apply to a provision of a beneficiary designation that:
(1) has been made irrevocable, or revocable only with the spouse's consent;
(2) is made after the marriage is dissolved or annulled; or
(3) expressly states that the dissolution or annulment of the marriage does not affect the designation of a spouse or a relative of the spouse as a beneficiary.
(c) A provision of a beneficiary designation that is revoked solely by subsection (a) is revived by the owner's remarriage to the former spouse or by a nullification of the dissolution or annulment of the marriage.
Cite this article: FindLaw.com - Indiana Code Title 32. Property § 32-17-14-23 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-32-property/in-code-sect-32-17-14-23/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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