IGG - that's terrible. :-(
Are there ANY kind of medically documented senility / dementia issues at all with your MIL? Like even the beginnings? *Could there be* in the immediate future?
I see where you're going. That's certainly a possibility.
IGG - that's terrible. :-(
Are there ANY kind of medically documented senility / dementia issues at all with your MIL? Like even the beginnings? *Could there be* in the immediate future?
I'm sorry I have to revive this sad old thread from years ago. It seems my MIL was taken advantage of this week by some dirtball insurance salesman who sold her on the idea of converting her entire IRA into an annuity... and she signed the papers. I don't have all the details just yet... but I am furious.
Whoever this guy is does not have a clue about her full financial picture. She is by NO means rich, but she should have enough to get her by, and to that end her finances are very carefully planned out. He probably planted some seeds of fear about a market crash, then preyed on those fears, got her to sign the papers (because she's a nice old lady who doesn't like to say no to people), and then he probably made $10,000 commission on the deal.
Grrrrr. Tomorrow I'll get all the facts, and then go fix this mess... but what I really want to do is overreact.
Okay, I'm going to chill out and get some work done. Thanks for listening to me vent.
...Fortunately, when I called the parent company they agreed that it was outrageous and backed her out of it without any issues. Otherwise, I would probably be in jail for killing that s.o.b.
Thanks Rob. That's where I'm at. No compliance board in the world would have approved this, so I'm hoping we can just back her out.
There's a special place in hell for people who get rich selling annuities to the elderly.
Thanks Rob. That's where I'm at. No compliance board in the world would have approved this, so I'm hoping we can just back her out.
There's a special place in hell for people who get rich selling annuities to the elderly.