Sixteen years ago I designated a person as my beneficiary in an investment fund that I invested my money in that pays a monthly payment to me until I pass away.
The beneficiary did not contribute any cash into the fund.
After I pass away, the beneficiary is to receive the monthly payment until he passes away.
At this time, I have reason to remove the beneficiary. I thought it would be easy to just contact the investment company and inform them that I wish to eliminate that beneficiary. The investment company has told me that the form I signed constitutes a “contract,” and that I have to get a court order to remove the beneficiary.
For the last several months, the investment company has not been able to find a copy of this original “contract,” even in its so-called archives.
I have contacted the Clerk of the Superior Court in DeKalb County, and was told that I would need a civil attorney to file a Petition to get a Court Order.
Not only that, but I need a civil attorney who deals with investment issues.
I don’t know where to start with this, and I don’t know why it has to be so complicated. It is MY money, in MY investment fund. The investment company said that since the “beneficiary” signed the agreement I drew up, that it is in essence, a “contract,” and that all this has to be done.
Plus, I am in my mid-80’s and live in a suburb of the city, and need to have an attorney who is close to where I live.
I could look on the humorous side of this, and just decide to outlive the unwanted beneficiary!