[WSBAPT] Brokerage Company No Honoring Payable Upon Death Beneficiary Designations

[Jeff Davis]

Listmates,

 

A Mid-West Brokerage Company refuses to honor the deceased client's payable
upon death beneficiary designations unless I sign an extensive certification
confirming the date of death, legal residence on date of death, how many
years the decedent resided here, whether any Will is true and accurate, that
the beneficiary is the sole person entitled to the distribution, that all
taxes, funeral expenses, other debs and claims against the decedent have
been paid, and no other person has any interest in the estate, etc, and then
has an extensive in indemnification and hold harmless provision.  Of course
I told the beneficiary, I would not sign it.

 

Is there any law, like that dealing with Banks not honoring Powers of
Attorney, allowing the POD beneficiary to sue to enforce the provision?

 

Jeff Davis

 

W. Jeff Davis, Esq.

BELL & DAVIS PLLC
P.O. Box 510
Sequim WA 98382
Phone No.:(360) 683.1129 
Fax No.: (360) 683.1258 
email:  <mailto:info at bellanddavispllc.com> info at bellanddavispllc.com
 <http://www.bellanddavispllc.com/> www.bellanddavispllc.com
 
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