Georgia residents may not know the ramifications of failing to change beneficiary designations after a divorce. Revising a will to disinherit a former spouse will not affect beneficiary designations on most policies.
After a divorce, the named beneficiary on a life insurance policy, a retirement account, a bank account or any other such instrument will often inherit the proceeds of the instrument even when those results contradict a will. While Georgia is unique in its law that prohibits a divorced party from inheriting under a will unless the will specifically permits it, Georgia does not have a law that has the same effect when an individual dies leaving an ex-spouse as the beneficiary on a life insurance policy or other similar instrument. Many such policies are not assets that pass through probate, so the will has no effect on the beneficiary designation.