jvfrank1980
Junior Member
Live in Iowa, Uncle from Pennsylvania.
In 2001, I was notified that my uncle was put into care at a older persons home and was deemed demented, and not able to make his own choices anymore. A few months later I received a letter from his power of attorney stating that he had an amount of money in which my brother and I would receive from his will when he passed. He gave me a break down of his money, and one of the moneys included an annuity in which I was the sole beneficiary, there was also an IRA and some other kinds of funds. A few years went by and we talked here and there, then in 2003 the POA told me he would be investing my uncles money into some other fund to try to make more money. He assured me all beneficiaries would stay the same. This past year my uncle passed in February, at that time the POA called and said there would be a one hundred and nine thousand dollar inheritance tax?? He also said there was 2 annuity's and an IRA with beneficiaries and he would let me know who they were, I thought to myself shouldn't he know who they were?? Three months later he said he found out that on the large annuity that I was still the sole beneficiary and that the other moneys of my uncles estate would be split 50/50 between me and my brother according to my uncles will. I have heard little from the POA since then. So I sent him a letter 2 weeks ago asking him how the annuity would be sent to me, threw him or threw the company? I had not heard from him so today I decided to call the company, nationwide. I gave them the annuity account numbers and they said I was not the beneficiary and that the beneficiary was my uncles estate, they said they received a testate or something that sounds like that they wouldn't say from who though, I asked if I ever was the beneficiary and they said they couldn't tell me. Is it possible he switched it? Why would he tell me I was the beneficiary if he knew I was going to find out in the end? Does the POA have to give the state of PA a break down of my uncles will, and to whom and how much to whom? Does it sound like something fishy is going on here or am I just jumping the gun, also is it possible nationwide is wrong about whom the beneficiary is? Also curious how much money from my uncles estate does the POA and the executor of the will receive and do they get a certain percent, if so is it off the top or off the top after the PA estate tax has been done? Also is there a way by law in which I can get a complete break down of everything my uncle had and where it all went and to who? Thanks for all the help.
In 2001, I was notified that my uncle was put into care at a older persons home and was deemed demented, and not able to make his own choices anymore. A few months later I received a letter from his power of attorney stating that he had an amount of money in which my brother and I would receive from his will when he passed. He gave me a break down of his money, and one of the moneys included an annuity in which I was the sole beneficiary, there was also an IRA and some other kinds of funds. A few years went by and we talked here and there, then in 2003 the POA told me he would be investing my uncles money into some other fund to try to make more money. He assured me all beneficiaries would stay the same. This past year my uncle passed in February, at that time the POA called and said there would be a one hundred and nine thousand dollar inheritance tax?? He also said there was 2 annuity's and an IRA with beneficiaries and he would let me know who they were, I thought to myself shouldn't he know who they were?? Three months later he said he found out that on the large annuity that I was still the sole beneficiary and that the other moneys of my uncles estate would be split 50/50 between me and my brother according to my uncles will. I have heard little from the POA since then. So I sent him a letter 2 weeks ago asking him how the annuity would be sent to me, threw him or threw the company? I had not heard from him so today I decided to call the company, nationwide. I gave them the annuity account numbers and they said I was not the beneficiary and that the beneficiary was my uncles estate, they said they received a testate or something that sounds like that they wouldn't say from who though, I asked if I ever was the beneficiary and they said they couldn't tell me. Is it possible he switched it? Why would he tell me I was the beneficiary if he knew I was going to find out in the end? Does the POA have to give the state of PA a break down of my uncles will, and to whom and how much to whom? Does it sound like something fishy is going on here or am I just jumping the gun, also is it possible nationwide is wrong about whom the beneficiary is? Also curious how much money from my uncles estate does the POA and the executor of the will receive and do they get a certain percent, if so is it off the top or off the top after the PA estate tax has been done? Also is there a way by law in which I can get a complete break down of everything my uncle had and where it all went and to who? Thanks for all the help.