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Irwin Law
Irwin Law, Attorney
Category: Legal
Satisfied Customers: 7408
Experience:  Lawyer & Real Estate Broker, 30+ years, foreclosure, land contracts, inheritance, probate.
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My brother in law has been offered a retirement buy out. my

Customer Question

my brother in law has been offered a retirement buy out. my sister is afraid to sign off on the buyout because my brother-in-law has mental issues and she is afraid he will change the beneficiary of the money to someone else and cut her out of the money. Can she get listed as a beneficiary that came not be changed?
JA: What state are you in? It matters because laws vary by location.
Customer: she is in Wisconsin
JA: Has anything been filed or reported?
Customer: nothing yet. his last day of work is today. the buyout had been proposed and she worried to sign off so he can take the money to invest
JA: Anything else you want the lawyer to know before I connect you?
Customer: not sure, I just spoke with sister today. if she does not sign off it is not in the best interest of their family. he will be very angry if she does not sign. needs to protect herself
Submitted: 8 months ago.
Category: Legal
Expert:  Irwin Law replied 8 months ago.

Sister could file for divorce before signing and obtain a quick court order requiring the company to issue the buyout check in joint name. Then the proceeds can be set up in a trust fund that will protect both of them, and then they can dismiss the divorce and stay together. Or something like that.

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Customer: replied 8 months ago.
there is no divorce being considered. he is flaky, one day a good spouse the next day paranoid. they have considerable assets with he handles. how she she allow him the buyout and then lock herself in as the beneficiary?
Expert:  Irwin Law replied 8 months ago.

If husband is unwilling to voluntarily assign her an interest, or create a trust, the divorce is just a tactic to accomplish what you mention. It will require a lawyer, and there is no guarantee that it can be done. It's a tough legal situation.