Self Regulating the Annuity Industry

[VolAgent]

Since he was not the beneficiary of the CD that was liquidated or the Annuity the funds were moved to I would say that he made out very well since he wound up with all of the money.... whatever amount it was...

I would have just changed the beneficiary to myself once I gained custodianship of her.

In reference to your earlier comment about FINRA, that was my point. Just be careful what you wish for, you might not like it. I don't believe State Bar Associations, Medical Boards, etc. operate anything like FINRA. But we still might end up with something like FINRA for self-regulation.

 

[bobson]

Since he was not the beneficiary of the CD that was liquidated or the Annuity the funds were moved to I would say that he made out very well since he wound up with all of the money.... whatever amount it was...

He could have had more.

It is sad that a person loses control of their finances at a certain point and time. My wife is a court reporter and she sees estate fights all the time. Even when wills clearly indicate what the person wished when they were healthy enough to make decisions.

Right now a distant relative is fighting with his brother over the family farm. The other brother never stepped foot on it and the mother is still alive and healthy. The absent brother wants his share now. The attorney fees are going to take a large dent out of the farm. Plus the brother working the farm has enough on his plate now he has to fight with his brother on farming decisions.

Those billionaire's that give everything to charity have it right.

 

[Norwayguy]

I would have just changed the beneficiary to myself once I gained custodianship of her.

In reference to your earlier comment about FINRA, that was my point. Just be careful what you wish for, you might not like it. I don't believe State Bar Associations, Medical Boards, etc. operate anything like FINRA. But we still might end up with something like FINRA for self-regulation.

I am in your camp....You look at FINRA and you think I prefer the devil I know right now which is the state.