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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 118131
Experience:  Attorney experienced in commercial litigation.
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Beneficiary husband IRA account was given to s daughter

Customer Question

Beneficiary for my husband IRA account was given to his daughter which only had her name on it correct every thing else was incorrect relationship had sister a made up social security number and the bank officer told me I was never beneficiary and he sign both beneficiary form original in 09/26/2006 second 11/30/2006.I paid two attorneys one said my stepdaughter could not dis inherit me according to NJ law sent her two letters and want more money second attorney I paid he pull the records showing I had been beneficiary he call the funeral home spoke to a Rev Holloway and drop the case I also contact OCC the clerk said he has the right to give his daughter the money. If he met for her to have it why did he say sister plus his sister in law came to NJ inquiring if my stepdaughter could get my pension I have dealt with contracts over 30 yrs never would a company release that money with all of the incorrect information again when ever I contact someone about this Ira account at first they are very helpful but when I call to follow up I get a very negative and rude response. also I contact the PNC Bank for distribution form so I could file tax they sent me a contribution form instead when I tried to tell OCC the refuse to hear it and close file after I brought this new information Please I need my husband IRA money I feel it is rightfully mind and I want it with interest
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Law Educator, Esq. replied 1 year ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

You had the right to object to the beneficiary designation, which you say you did, what did the attorney you paid to do this tell you when he looked into the matter?

Customer: replied 1 year ago.
First Attorney sent 2 letters to my stepdaughter and told me I need more money to file papers ( I paid him$500.00) The second attorney I had him to pull files that I was the beneficiary this is when I seen all of the incorrect information of the second beneficiary forms He call the Braggs Funeral Home Spoke with a Rev Holloway who help me to arraign the funeral couple days later he drop the case. But I am not going away. I can't afford give anymore money away ( paid him$1,000.00)
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your reply.
If the beneficiary designation here is incorrect, you are going to have to file suit and serve the daughter and the insurance companies a copy of the suit. The fact that there is incorrect information on the documents to void the contract. You are going to have no choice but file suit in court against the daughter and the IRA Account company, because at this point you have to prove that the party named on the account as beneficiary was a non-existent party and as such one who cannot take the policy, which would mean the account would go into his estate. Now, once the account goes into his estate, you will not get the whole account, you would have to share with his children, because under NJ law the surviving spouse of the deceased gets the first $50,000 and then shares the remainder of the estate with the children of the deceased 50-50.
So, you will need to sue the IRA company and also the daughter to challenge the beneficiary designation and also file to open probate on his estate and you will need to do that so if you win the suit against the IRA company the money would go into there.