My father had traditional IRA using E-trade. He designated beneficiary as me and we set up together when we filed my information on his E-trade beneficiary designation form. We made sure check few times that my social security number and my name spelled correctly. I do clearly remember that there was no error. However, few years passed by, my father passed away. I contact E-trade sent my father’s death certification with my beneficiary information about providing my copy of social security card and driver’s license. However, when I call them to request transfer my inherited IRA in to my beneficiary IRA account. They told me my request was rejected because one of my social security number was wrong and it needed to fixed. I was wondering, how that can be possible, my father and I both make sure all of my information was accurate when we file a designated beneficiary. Unfortunately, we filed through using E-trade website and completely trust E-trade that they were good company to trust. I am for sure my father and I both check carefully that beneficiary information is accurate but they telling me my social security number is wrong. I am sure they lied but I have no way to prove it because it filed on E-trade website inside my father’s account. However, since I can’t prove it, I took a reality and follow their direction to fixed up my one of wrong social security number and they told me everything is set. All I need is wait about three weeks. After three weeks, I don’t hear form them anything, so I called them and ask about situation. Every time when I call, I have to wait at least an hour hold on phone waiting. When eventually E-trade beneficiary team answered my files are still in review and it may will take another three weeks. Now I feel like when I call them after three weeks, they will tell me it will take another three weeks and make me keep waiting.
I have currently no income and I had to be full time care giver for my father until his last day. I thought my father’s IRA is available for me to pay for all the expenses and able to carry on my life with it for a while. But that expectation is ruined and now two months gone by there is no sign of transferring my father’s IRA to my beneficiary IRA. Last two month I almost use up my savings to pay bills and I still have to file my father’s final income tax but I have no more money left. I got a job from amazon ware house to take care of my own expenses, however, the dept. is growing like snow balls every month. If I can assess my father’s IRA, this will never will happens. My life ruined and all the sudden I am left all alone with nothing. E-trade is not let me access my father’s IRA and it is like pie in the sky to me now. I am only son, my father loved me dearly and he want to me to live good life left me all of his life savings in IRA. Now E-trade hold on themselves restrict my father’s IRA account. I have nothing now. I feel like I lost my father and his estate all together. I have no power to challenge against E-trade. I even send letter for begged them to transfer my father’s IRA but they don’t seems to care. At this point, what should I have to do? Who should I ask to help me to get my inherited IRA? It is heart aching because I know my father showed me his IRA account on his E-trade and telling me “It is for you. after I am gone, you will have no problem financially.” That was his happy monuments that he have done something good for me. How can I make them to transfer my father’s IRA to my Beneficiary IRA? How long should I have to wait? a year? 2 year? 3? Is it legal for them? I have found lots of review about similar situations with other people who had IRA with E-trade. If any one give me advice for this situation? Thanks.