Do you have what they call “your affairs in order?”

 

As many of you already know, one of our regulars, Suzieseller, recently lost her beloved husband.  We all are so sorry.  We know how much it hurts.  Very sad. 😞


Suzie is having a hell of a time getting access to some of their accounts.  She writes:


Not to take it off topic; but as a fair warning to all family members and spouses out there: Make sure that anything with their name on it as the primary account holder on; that they request, and fill out an official form that designates you as the beneficiary on each those accounts; assets; or anything else you would have to take over. My husband assumed that was all automatic in California; but it is not necessarily true. I have had two different accounts that were some of the largest; including some retirement annuities; and some investment accounts that have requested I need go to probate to get a designated court order that names me as the trustee to his accounts; or funds. Learned that this will cost me between $6-10,000; even though I am designated as his beneficiary on all of them. Because he didn't fill out those forms with each of those companies himself; I am still fighting to avoid the hassle, and expense of probate.


I have since added at least one of my daughters to every account I have since learning that it was required in order for them to access any information; or funds; should I die. As his only surviving relative and his spouse for 18+ years you would think they would accept my word; or my designation as his surviving spouse; but they are still fighting me to produce a court order; and have been withholding my ability to transfer them into my name for the last 6 months! Another lady whose husband died about the same time as mine is dealing with the exact same issues, and he was a medaled Navy Seal!


I mentioned to Suzie that I was pretty sure most all of our stuff is in both my husband and my name.  And that I thought our wills would take care of anything in question, but that a lot of things can go wrong when the time comes.  She replied:


Ours too has always been in both of our names; doesn't matter; they still say they need a court order to release the accounts; I can't even get a current statement from 2 of them.

You have to ask each company what they require should the primary account holder die; or become unable to approve full access to their spouse; attorney; or family member whom they would choose to take responsibility.

I was designated as his beneficiary; even received his death benefit in two instances; but since I was not designated as an official trustee of his estate my access to some accounts remain in limbo.

It's really been a mess; one they never mentioned that I believe my husband was neither aware of.

Something any corporation should disclose when any account is first opened. I can't even get back statements from our checking account that we held jointly for 30+ years; and my name is printed on the checks!

Some call it red tape; a PITB is how I would have to define it at this moment! And yes it is entirely unnecessary and avoidable; but only if we know about it; and make it official with each company; or account; before we die! :\ Ironic example of living and learning! :D


Q: What do you think?  Are you pretty sure everything, financially, is in legal order in your life?  Any advice from especially our resident lawyer, Germaine, or any other legal beagles that frequent this place?


(by PrimalSoup)

Comments

Post a Comment

Popular posts from this blog

That Uplifting Tweet You Just Shared? A Russian Troll Sent It

Image
Here’s what Russia’s 2020 disinformation operations look like, according to two experts on social media and propaganda. By   DARREN LINVILL   &   PATRICK WARREN Internet trolls don’t troll. Not the professionals at least. Professional trolls don’t go on social media to antagonize liberals or belittle conservatives. They are not narrow minded, drunk or angry. They don’t lack basic English language skills. They certainly aren’t  “somebody sitting on their bed that weighs 400 pounds,”  as the president once put it. Your stereotypical trolls do exist on social media, but the amateurs aren’t a threat to Western democracy. Professional trolls, on the other hand, are the tip of the spear in the new digital, ideological battleground. To combat the threat they pose, we must first understand them — and take them seriously. MORE: https://www.rollingstone.com/politics/politics-features/russia-troll-2020-election-interference-twitter-916482/ P...
Read more

The Nightmare Scenario That Keeps Election Lawyers Up At Night -- And Could Hand Trump A Second Term

Image
The Nightmare Scenario That Keeps Election Lawyers Up At Night -- And Could Hand Trump A Second Term   (Photo: Photos: Getty Images) Americans will almost certainly go to bed on Nov. 3 without knowing who won the presidential election. Since millions of people will vote by mail, constraints on time and resources will slow ballot counting into potentially a weeks-long process. Voting patterns suggest it’s likely that President  Donald Trump  could end Election Day in the lead in certain key states, only to be overtaken by Democratic opponent  Joe Biden  when more votes are tallied.  This could create a nightmare scenario during the three months stretching from Election Day to the Jan. 20 inauguration: a battle on the state and congressional level over who is the legitimate winner. This could include Congress reconvening on Jan. 6, presided over by Vice President  Mike Pence , with no consensus over its potential role in choosing the next president. This...
Read more

When Life Hands You Lemons

Image
 It's like this folks: sometimes your mind goes blank. Happens more than usual with me of course. Take this forum for instance. I wanted to post something today and couldn't think of a topic. At least not a non-sexual one and we know sexual ones lately have been frowned upon.  Then along comes one of our regulars and complains about something. Well, they might not say it was a complaint, just an observation, but it was a complaint. A minor one. It has something to do about being able to make something out of nothing. Sort of like me this morning, how to make a thread out of an empty head? But they (notice I am using the correct pronoun, not saying he or she), by what they said got me thinking. What I thought was: Not sure if that is the actual saying, if I remember correctly, I remember the saying going something like this: Umm, no, I don't think the saying I am thinking of goes that way either, maybe ONE of you good folks can remind me how the saying goes. Either way, when...
Read more