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Distribution equally after death

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aanubis

Member
What is the name of your state? Florida (investments in TX)

I am overseeing a death situation with investments left to 10 named beneficiaries, all to receive 10%. All claim forms were submitted at the same time.

It turns out the investment company completed these claims on 3 different days, hence the beneficiaries received 3 different amounts due to market fluctuations. The named beneficiaries did not each receive an equal 10% as designated. Some received over $1000 less than others.

Is there any recourse? Is there anything that can possibly be done now to allow for the beneficiaries to each receive the 10%?

Thank you in advance.
 


Dandy Don

Senior Member
What type of investments are they? Due to the nature of the investment there may be no way to insure that an exact 10% will be given and the amount they have received is probably allowable and the best that can be done.

Is there a will that was probated in court that specifies the 10% amount?
 

aanubis

Member
These are investments with named beneficiaries, and thus a will has nothing to do with it. The funds pass outside the estate.

I understand there could be a little difference, however, my main question is, HOW can they distribute on 3 different days? Is this allowable, or should all 10 distributions have been made on the same day?

This action means there is over a $1000 difference, and since I originally posted, the other amount is almost a $3000 difference.

The beneficiary designation of 10% each didn't happen. Hope this is clearer.
 

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