Financial Security After Divorce

In an interview with 55 Plus Magazine, P&F's Jason Livingston, discusses the important legal measures to be taken for older adult divorces. The full article can be found here.

Jason Livingston, attorney and partner at the Law Offices of Pullano & Farrow, PLLC in Rochester, said that mature adults facing divorce have some similar and some different issues than younger adults. Rather than issues involving child custody, older adults look more at documents surrounding life insurance, asset distribution or end-of-life planning.
“If they have their spouse as beneficiaries, power of attorney or health care proxy, they need to change that as soon as they know they’re divorcing,” Livingston said.
Fortunately, New York law states that divorce will modify or sever appointments in these documents, even if the person who had them drafted doesn’t formally change them. But if the person dies before the divorce is finalized, “their assets and those powers may go where they no longer want them to,” Livingston said.