HB145 Summary

• Revokes revocable designations made by a divorced individual to their former spouse in governing instruments, including revocable inter-vivos trusts, life insurance beneficiary designations, and retirement plan beneficiary designations.

• Revokes general and nongeneral powers of appointment granted to a former spouse or their relatives, and revokes any fiduciary nominations of a former spouse or their relatives as executor, trustee, conservator, agent, or guardian.

• Converts joint tenancy interests held by former spouses at the time of divorce or annulment into equal tenancies in common, eliminating the right of survivorship.

• Provides that third parties and payors are not liable for payments made in good faith before receiving written notice of divorce or the claimed forfeiture.

• Requires former spouses and relatives who receive benefits they are not entitled to under the law to return those benefits or be personally liable for their value, with exceptions for those who purchased property in good faith without notice.