Another practice tip for New York State mediators
A very important point for mediators to remember when preparing a memorandum of understanding is that under New York State law, a presumption is created that that many designations made during a marriage are revoked upon a divorce. Often times, a spouse will desire to have his or her ex-spouse continue to be the beneficiary on an insurance policy or a retirement asset. Sometimes a spouse will desire their ex-spouse continue as his or her health care agent, or executor or executrix of his or her will. In all these situations, the presumption is the designation fails upon divorce. In order to disprove the presumption, the designation must be remade post-divorce or the designation must be included in the judgment of divorce. A reminder in the memorandum of understanding that the parties should talk to their attorneys about remaking the designation or including the designation in their judgment of divorce, could help your clients achieve their desired outcome.
