                                 CODE OF VIRGINIA

REVOCATION OF DEATH BENEFITS BY DIVORCE OR ANNULMENT (§ 20-111.1)

A. Except as otherwise provided under federal law or law of this Commonwealth,
upon the entry of a decree of annulment or divorce from the bond of matrimony on
and after July 1, 1993, any revocable beneficiary designation contained in a
then existing written contract owned by one party that provides for the payment
of any death benefit to the other party is revoked. A death benefit prevented
from passing to a former spouse by this section shall be paid as if the former
spouse had predeceased the decedent. The payor of any death benefit shall be
discharged from all liability upon payment in accordance with the terms of the
contract providing for the death benefit, unless the payor receives written
notice of a revocation under this section prior to payment.

B. The term &#8220;death benefit&#8221; includes any payments under a life
insurance contract, annuity, retirement arrangement, compensation agreement or
other contract designating a beneficiary of any right, property or money in the
form of a death benefit.

C. This section shall not apply (i) to the extent a decree of annulment or
divorce from the bond of matrimony, or a written agreement of the parties
provides for a contrary result as to specific death benefits, or (ii) to any
trust or any death benefit payable to or under any trust.

D. If this section is preempted by federal law with respect to the payment of
any death benefit, a former spouse who, not for value, receives the payment of
any death benefit that the former spouse is not entitled to under this section
is personally liable for the amount of the payment to the person who would have
been entitled to it were this section not preempted.

E. Every decree of annulment or divorce from the bond of matrimony entered on or
after July 1, 2012, shall contain the following notice in conspicuous, bold
print:
			Beneficiary designations for any death benefit, as defined in subsection B of
&#xA7; 20-111.1 of the Code of Virginia, made payable to a former spouse may or
may not be automatically revoked by operation of law upon the entry of a final
decree of annulment or divorce. If a party intends to revoke any beneficiary
designation made payable to a former spouse following the annulment or divorce,
the party is responsible for following any and all instructions to change such
beneficiary designation given by the provider of the death benefit. Otherwise,
existing beneficiary designations may remain in full force and effect after the
entry of a final decree of annulment or divorce.

HISTORY: 1993, c. 417; 2007, c. 306; 2012, c. 493.