East Falmouth, MA asked in Estate Planning, Family Law and Probate for Massachusetts

Q: My full story is below.

My Grandfather passed away on 12/23/18, and had a Merrill Lynch investment account with 3 beneficiary's. My mother, and her two siblings. My mother passed away two months before him,on 10/9/18. The remaining 2 beneficiary's have since split the account 2 ways, and cut my deceased mother, ( and therefore me), out of the account worth roughly $400,000. I spoke with a Merrill Lynch rep, and he was saying that because of the TOD designation, and the way it was written, tough luck for me basically. I am getting screwed out of my rightful inheritance, and I need to know if this section of Ma law, 2-706, is to protect people like me from getting robbed, and what kind of recourse do I have. Should I sue Merrill Lynch? My uncle and aunt? I need to know what to do next. Thank you for your help with this...... . I don't know the exact beneficiary designations, just that there were three names on it, my Mother being one.

1 Lawyer Answer
Lillian J. LaRosa
Lillian J. LaRosa
Answered
  • Probate Lawyer
  • Woburn, MA
  • Licensed in Massachusetts

A: It depends upon how the beneficiary desigination reads-does it list the 3 persons as joint tenants with the right of survivorship? Or as beneficiaries in common or does it list further contingent beneficiairies.

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1 user found this answer helpful

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