Finance, Investments Restricted all activity due to a withdrawal.

[Hope4Charlene]

Jurisdiction

Nevada

I have an IRA account with a large company who is the record keeper of the Defined Benefit and Defined Contribution and 401K plans that the Union I worked for and now I am retired from since 2015. I had to quit back in 2013 due to medical issues. When I started working for this Union, the investment company that was in place was great. Never had any problems with them at all. I had a stroke, 2014 and other issues and had to submitted the General Durable Power Of Attorney with them that had my wife named as the the person who would act for me. No issues and they were very nice and sent passwords for her and me to be able to sign in online. My wife was to have full access to the account. Then when my wife went to sign in maybe a month after they had a restriction on the account. They said that we had to call for account balances etc. Well in 2021 I wanted to roll my account out of the Union and over to another investment company. I had issue after issue trying to move it to another investment company due to the fact that a phone conversation between my wife and the advisor who told her that she would never have access to the account online. It was handled through the union and then to roll it over the union told me to roll it over to them and then I could roll it over to another investment company if I was not happy still as now it would be through the investment company and not the retirement side of the company.
So my wife was able to roll the money over in less that 15 minutes after submitting the POA and some other forms. She had access online and was able to do whatever. Then they restricted the account about 6 months after. They sent a letter stating it was because she mentioned divorce court. So they thought we were in divorce court but she was talking about my ex wife and being in court for that. So when she thought that was clear they sent a letter stating some withdrawals had been made and they wanted to secure the account as this money is for my benefit and not hers. They said they felt she was using the funds to benefit her. She had bought a new truck for me and wrote the check and of course. The truck had her name on it only because she went and bought it. They felt this was wrong and it was a lot of money and needed to talk to me and they did not even ask about that.
Well now they feel that there should be a guardianship or conservator ship in place. My wife and I told them that we were fine with the POA on file and then they said it was not good enough. That we needed the guardianship. When she called them back and explain that the POA would preclude those and the POA was done in a family trust and in the way I wanted it done and we did not feel we should have to pay the large amount of money for a guardianship to be added when it was not needed. Now they are saying that it has to be that way or have a doctor state I could handle my affairs without my wife as a POA. Do I have to do this? We have no access to my account and unable to make any buys or sells all my bills have been declined and now behind which has been fixed but the fees, well. I can't close the account but can roll it over to another investment company or bank but it is restricted. Do I have any options besides having to take this POA out of the trust which I don't want to or feel I should have to to. Who do they think they are telling me how I can spend my money or who it might benefit? God forbid I want her to purchase something for herself.

 

[army judge]

Now they are saying that it has to be that way or have a doctor state I could handle my affairs without my wife as a POA. Do I have to do this?

According to what you've revealed, that might be the easiest, quickest remedy.

Your other option it appears is to take the dispute to court, which would necessitate hiring an attorney.

 

[adjusterjack]

Now they are saying that it has to be that way or have a doctor state I could handle my affairs without my wife as a POA. Do I have to do this?

The quality of your writing suggests that you are quite capable of handling your own financial affairs.

I agree with the Judge. Unless you want to spend tons of money on a lawyer, get the doctor's letter, rescind the POA, and get your money the hell away from those bastards who don't want you to have it.

 

[Hope4Charlene]

Yes you are right on both army judge. I have learned a lot being pro se. I have learned that all courts and or officers of the court are not holding to what should be done but what makes the most money and or votes. Corruption is not a good enough word. Well, I do need to be open about my thoughts and say I do live in Nevada and it has and or suggests having sunk to an especially vicious or enervated condition, that is, becoming a bad gambler! I should note that I moved here not because I wanted to gamble but to help my ex husband and ending up at the little drive thru chapel so I could sit next to his attorney at the time and sign his amended decree. Well I am still here and still in court. I want to just add, I was so happy to see a site that might not have anything to do with Vegas! And maybe I would get some real answers and maybe just maybe without being bias or the defense attorneys friend.
My husband is here because it was close to San Diego, his mom, step dad and sister all were there but since COVID we only have each other.
So back to the investment company. I can't believe that they can just close your account and take your money and there is nothing you can do or you can do and spend more than what you probably have. He has worked since 1963 and I was born in 64, wow just hit me! Any way, he has worked hard and away from home in the ocean. Yes his choice, but he made sure his new wife at 16 who gave birth to his first boy would have everything they needed. His step dad showed him that life at the age of 10. So he has been on that ocean his whole life almost. What I am trying to say is, he just wanted to be able to retire and travel in his RV and go when he wanted to go and now, that will never happen I am sorry to say because of the corruption of officers of the court. I only hope that none of our grandbabies want to live here because of the no state tax. Or because they are in a different tax bracket. I would hate to see what is happening to these children caught in this cycle too. Bad attorneys only looking out for themselves and bias judges who have a thing about lesbians and I am not saying they all are like this but I can't even hire one to help me out of fear of them being told to withdrawal and or not being able to the report the Judge. When a Judge tells me that the next hearing is going to be a bloodbath or hear the Judge call my husband a loony toon, I ask our attorney why didn't you say anything and the response was, like what, I can't yell at him! I have cancer now 3rd stage and I am tired but haven't given up.. I have never told anyone that little thing that I am dealing with also on top of Judges, attorneys and investment account. I have somehow manged to get everything back that they took from him but the 7 years has cost a lot doing it. I don't regret it because really his ex was given more than half and the house he had just built along with everything else was to be sold and split and the ex was to be the one to give the keys to so she could get it sold.When I remarried him it was so funny to see the attorneys faces, I knew then they were working together against my husband. I read and read and read. We walked into the courtroom and it was for guardianship. Our attorney told us that his ex would be given the guardianship and we would have to just make the best of it, I said pull them big boy pants on, 1:00 am the morning of court, and lets go get married, they would surely give me the guardianship and we will ask your mom and sister to be co guardians. It worked. I had no attorney and my husbands attorney could not represent me but I did ask for leave to get everything in order and I was granted special guardianship, this was not suppose to happen and our attorney never finished the process and I really had no idea what it was and or believed it would be fine now! Well, I have just gotten my hopes up thinking okay I got it, found the rule and the case that backs my butt up thinking okay the Judge will finally see that this defense attorney is wrong in what he is doing. And yet another win for the defense.I won't give up. BUT I can not find anything about the investment company's ways. I'm still in shock reading what they can do and what you can't do.
Anyway I am happy that I stumbled onto this site! I feel good about it. And you never told me that I did not make sense! Or ask me who or what I was talking about. Thank you for listening. I guess we need to vent sometimes and I feel blessed today and no one died.
Not that you wanted to know but, I married my husband in 93. He was a chief on Tuna Saintors and then became a Merchant Marine. If you have never read your investment company's rights and what they stand by and who they are REALLY, then you are going to be in for the shock. But when your part of a Union I guess you have no choice as to who is the record keeper. I have heard not to roll your money to those record keepers of your money when you where a employee.. Not sure yet why, but I will find out.

 

[Hope4Charlene]

Not sure about the trophy thing but THANK YOU TO YOU BOTH. I have the biggest smile on my face! I feel like whom ever you are, and I could be wrong a Judge that cares and maybe a Lawyer or someone who works in the Assessors office. But you both made me smile and that has been so hard to do lately.

 

[army judge]

Not sure about the trophy thing but THANK YOU TO YOU BOTH. I have the biggest smile on my face! I feel like whom ever you are, and I could be wrong a Judge that cares and maybe a Lawyer or someone who works in the Assessors office. But you both made me smile and that has been so hard to do lately.

Thank you for your very kind words.
I don't deserve such praise, but I will graciously accept it.

The battle isn't over until you quit, get defeated, or submit to the will of others.

Most people aren't tested to the extent you've been, but it's not over.

As long as you're trying, you have a chance to prevail.

I'd offer you a few things you can still do, which might change things somewhat in your favor.

As long as your husband's guardian is someone BOTH of you trust, perhaps you and hubby should discuss who best could fill that role.

If you both can agree and the person commits to becoming the guardian, that might do both of you well.

By the way, that person could be a family member, friend, attorney, or an entity, such as a bank.

I prevailed in a medical malpractice lawsuit for one of our sons, receiving a rather large award, we placed in a medical needs trust for the care of immobilized, paralyzed son, with the remainder upon his death funding college educations for our two grand daughters.

Classic tautology for you

There are good and bad people.
Lawyers are people.
Therefore, there are good and bad lawyers.

Find yourself a great lawyer, one that loves people and the law equally.

Talk to the lawyer about the practicalities of creating a medical needs trust for your spouse, as well as appointing a relative (perhaps you, ma'am), as his legal guardian and caretaker.

By the way, a POA need not be acknowledged by anyone, much less a financial institution.

A legal guardianship allows the person's conservator to speak for a person incapacitated. If that is you, trust me, these recent hijinks and shenanigans will cease!!!!

 

[Zigner]

The quality of your writing suggests that you are quite capable of handling your own financial affairs.

I agree with the Judge. Unless you want to spend tons of money on a lawyer, get the doctor's letter, rescind the POA, and get your money the hell away from those bastards who don't want you to have it.

I don't believe there would be any need to rescind the POA.

 

[hrforme]

Can't talk on the POA side....

From a benefits side, I will ask if there was ever a QDRO done with the ex-wife if your husband worked for that employer while married to her? It could be very possible they froze access because of a pending divorce issue from the first wife. I suspect that will need to be cleared up. Ask the plan for a copy of three things : (1) Plan document (2) Summary Plan Description and (3) A copy of the QDRO procedures.

Ask your husband about whether the ex-wife signed rights away in a divorce decree or if a QDRO was ever processed through the plan. If so check with the attorney/court of divorce to review it if was done.