Beneficiary (Contingent) Fraudulently changed

[Ideafactory]

What is the name of your state (only U.S. law)? MI

State: MI. My mother was the irrevocable contingent on a fixed annuity established by her husband in 2005. The annuity was a result of a rollover from HIS Erisa regulated pension fund (in which they were both fully vested).

In 2008, HE divorced my mother (actually he suffered from dementia and his daughter forced him to participate in divorce proceedings). Shortly after divorce in 2008, the daughter had her father declared incompetent and took guardianship.

Since 2008, the daughter changed the fixed annuity, forging my mother's signature, removing her from the policy. The annuity agent (not corporate office) told my mother about the change, followed by “you never spoke to me”. My mother's ex-husband just passed away. My mother has no money for a lawyer. How can she best contest with the annuity company that she never participated in any change of contingent or beneficiary?

 

[Zigner]

What is the name of your state (only U.S. law)? MI

State: MI. My mother was the irrevocable contingent on a fixed annuity established by her husband in 2005. The annuity was a result of a rollover from HIS Erisa regulated pension fund (in which they were both fully vested).

In 2008, HE divorced my mother (actually he suffered from dementia and his daughter forced him to participate in divorce proceedings). Shortly after divorce in 2008, the daughter had her father declared incompetent and took guardianship.

Since 2008, the daughter changed the fixed annuity, forging my mother's signature, removing her from the policy. The annuity agent (not corporate office) told my mother about the change, followed by “you never spoke to me”. My mother's ex-husband just passed away. My mother has no money for a lawyer. How can she best contest with the annuity company that she never participated in any change of contingent or beneficiary?

Why did your mother do nothing over a period of 3 years?

 

[justalayman]

and what has the annuity administrator said when mom informed them the change was not authorized by her (i.e. fraudulent)?

 

[Ideafactory]

Mom didn't do anything because:

A: She did not know the beneficiary had been changed until a few days ago, following the death of ex-husband.
B: Mom has had a number of complications with various estate issues involving her own mother, and just hasn't kept up on things, and has been confused by all the paperwork circulating.
C: Mom has spent most of her time and money since 2008 contesting the divorce. She never wanted it, and doesn't believe her husband did either. As soon as he began showing signs of dementia, his daughter swooped in and essentially "got custody"of her dad to get him to divorce my mom. Mom was unsuccessful in contesting the divorce.
D: Because this was an "irrevocable contigent beneficiary" plan, Mom thought that it was a done deal, safe, and never needed to be worried about. The possibility of a fraudulent change sometime in the 7 years since the plan's inception never occurred to her.
E: My brother's and I are beyond angry with our mom for being irresponsible and allowing herself to be duped, but despite our frustration, we are trying to do what we can to help. We are all in different states, one is out of the country.


Mom's stepdaughter (the one who assumed guardianship of mom's ex-husband) is a scary, scary individual. Has physically harmed her own father, as well as my mother, in violent manners. We have no doubt that this woman is capable of harming, or even killing our mother if her "inheritance" is threatened.

The plan AGENT is the one who told my mother about the change, indicating that he thought it was fraudulent. The change was made by mail, or through corporate office, not through the AGENT, he just received a copy or notification from the corporate office. Mom says agent is a nice guy, always has been helpful. However, he has ended each of their recent conversations with: "we never had this conversation." So, for some reason, he is nervous about being caught in the middle.

 

[Ideafactory]

RE: Annuity Company response to allegations

This is actually my main question. We are planning on contacting Annuity Company first thing Monday to inform them of possible fraud. We just learned of this ourselves, and have spent last couple days trying to sort out whether Mom had any copies of paperwork (she doesn't), and whether she was correct in believing that she had been an irrevocable beneficiary (plan AGENT confirms this verbally, but again, he acts nervous about being drug into this mess).
So, question is: before we start figuring out how to hire a good lawyer for mom, how do we best IMMEDIATELY put annuity company on notice of possible fraud so that they don't pay out on policy before we can get the lawyer and check it all out?

 

[justalayman]

, how do we best IMMEDIATELY put annuity company on notice of possible fraud so that they don't pay out on policy before we can get the lawyer and check it all out?

start with a phone call and follow up with a certified letter

I do have to question why mother was fighting the divorce rather than fighting the ruling of dad being incompetent, unless he actually was. Then, why didn't mom fight the appointment of the daughter as guardian?

 

[Betty]

Waste no time in informing the co. that issued the annuity of the "apparent" fraud in regard to the beneficiary.

 

[Mcfadden]

I am planning to apply for an insurance, a health insurance in particular, i hope you can provide some guidelines regarding with its benefits and of course, some key details with what is the best kind of insurance to take. Thank you very much in advance.

Local and long distance moving Bentonvillee

 

[Zigner]

Please start your own thread with your own question.

 

[Betty]

& if you're considering health ins., you might want to post your question in the health ins. forum.