Mentally Ill, Cognitively Challenged Husband changes beneficiary in rage
My husband, both mentally ill (personality disorder) and diagnosed executive functioning problems, changed his beneficiary from me to a friend in a revenge motivated action 2 weeks before he died. We live and married in California. Didn’t RBC Wealth Management have a duty to require a spousal waiver before allowing such a change?
RBC may not have known that my husband suffered cognitive debilitations, but certainly they knew this action was revenge motivated. We were married 14+ years, together for 17 years. FYI: Very decent woman who endured much abuse.
Permalink Submitted by Alan - IRA critic on Sun, 2018-11-18 17:04
You may have a cause of action against the beneficiary he named if this (IRA?) was community property. It would not be community property if it was an already inherited IRA or if all his contributions to this IRA were made prior to your marriage and no contributions were made after your marriage. Check with a CA estate attorney if the amount of this account is worth large legal costs. RBC might be named as a co defendant, but check with an attorney about that.