"My late father told me repeatedly I was a 50-50 beneficiary on his brokerage and IRA accounts. My brother, my dad, and I all went to the broker together to complete the paperwork. Dad told me to expect $2,500,000 inheritance. I am a widow and cancer survivor and, knowing about the inheritance, I retired early from a 30-year banking career because I knew my own savings would be added to someday with this very generous inheritance."
"He even called me the day after the funeral to hurry up and complete the account transfers, that I was delaying his money. I was surprised when the first firm gave me under $100,000. But I assumed my father's end of life care was greater than I knew and that the greater wealth must be held at the other broker. Then the second brokerage firm let it slip that I was a 10 percent beneficiary and my brother 90 percent!"
A widow and cancer survivor retired early after being told she would inherit $2.5 million and relied on that expectation. The father repeatedly assured a 50-50 split and completed broker paperwork with both children present. The brother had a history of bankruptcy, arrest, and job losses, yet the father bought him houses and cars, funded his children's college and weddings, and named him executor. After the father's death the brother rapidly submitted the death certificate and pressed for transfers. Initial payouts were far smaller than expected and brokerage records showed a 90/10 split in favor of the brother.
Read at Slate Magazine
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