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Sat Sep 12, 2020, 10:02 AM

This message was self-deleted by its author

This message was self-deleted by its author (Maraya1969) on Sat Sep 12, 2020, 11:57 AM. When the original post in a discussion thread is self-deleted, the entire discussion thread is automatically locked so new replies cannot be posted.

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Reply This message was self-deleted by its author (Original post)
Maraya1969 Sep 2020 OP
Bluepinky Sep 2020 #1
Maraya1969 Sep 2020 #4
Me. Sep 2020 #2
Maraya1969 Sep 2020 #3
Me. Sep 2020 #5
MichMan Sep 2020 #6

Response to Maraya1969 (Original post)

Sat Sep 12, 2020, 10:29 AM

1. Well, it was money you shouldn't have been getting.

It seems appropriate that the money is returned to them promptly. They aren’t under any obligation to work with you on a repayment plan.
Look at it from the other side. If they stopped making the deposits when they should have been, you would have wanted the situation fixed right away. And six months is a long time to inform them of the annuity owner’s passing. I would think that should have been done within a week or two after her death.

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Response to Bluepinky (Reply #1)

Sat Sep 12, 2020, 11:07 AM

4. I would think they would have a department set up to find dead people and stop payments to them.

Besides it wasn't my obligation to tell them. My brother got a lot of benefits from being POA and trustee.

I realize it is not my money but I still think the don't have a right to go into my account and take it! If that were the case why don't all companies just take the debts out of people's private bank accounts.

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Response to Maraya1969 (Original post)

Sat Sep 12, 2020, 10:50 AM

2. Is It An Annuity Or A Pension?

Pensions are a monthly disbursement, annuities are a fixed amount with interest added. The disbursement is upon request and in lump sums as decided by the holder of annuity. THe government determines, in some respect, when money must start to be taken but not the amount. You request disbursements until the money runs out.

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Response to Me. (Reply #2)

Sat Sep 12, 2020, 11:04 AM

3. It was the same amount every month for years.

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Response to Maraya1969 (Reply #3)

Sat Sep 12, 2020, 11:09 AM

5. That Sounds LIke A Pension To Me

and if your mother designated you as her beneficiary you should maybe still be getting it. Some pensions allow people to take less each month than they are entitled to so that a family member, usually a spouse, can keep collecting after their death. I'd check with the issuer of the pension and not the trustee, to see if such an arrangement was made.

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Response to Maraya1969 (Original post)

Sat Sep 12, 2020, 11:53 AM

6. Since the money wasn't legally yours, you shouldn't be surprised

"I should have just closed the damn account and put the money in a safe."

Which is exactly why they took it all back when they could, instead of waiting until you could hide it from them.

Also, they didn't take it out of some random other account you had, it was the one your mother instructed them to deposit it into.

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