Estate Law Questions? Ask an Estate Lawyer.
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Could you please provide me with some more information so I can better assist you? Thank you.
1. You had an annuity with Lincoln Insurance.
2. They accidentally cashed it out.
3. You wanted to cancel because of this.
4. They charged you a $12,000 penalty for cancelling.
Is that correct?
Ok thank you for clearing that up.
In that case, you would need to sue Lincoln for breach of the insurance contract as well as negligence.
Unfortunately, though, this is a process that will take time and will not happen immediately.
The most immediate solution would be to have an attorney send them a demand letter prior to filing suit to see if they comply. If they choose not to, you would need to follow through with the lawsuit. The litigation can take an average of a year or more.