Credit: Andrey Popov/Adobe Stock Appellate Division Finds Post-Divorce Estate Dispute Reveals Discrepancy Between State and Federal Law
"In the absence of any allegation of fraud or breach of trust, application of N.J.S.A. 3B:3-14 in this case, which allowed the estate to improperly avoid the consequences of the bonds' beneficiary registration, conflicts with the governing federal regulations under 'Free' and 'Yiatchos' and is therefore preempted," stated Judge Greta Gooden Brown. "Nothing in the parties' DSA warrants a contrary conclusion."
November 15, 2023 at 04:11 PM
5 minute read
In a published decision, the Appellate Division reversed a trial court ruling, finding that its legal determinations on a divorce settlement agreement were incorrect and that state law is preempted by controlling federal law on the disposition of federal savings bonds.
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