Q: Gave trust to Merrill Lynch on behalf of uncle who wanted beneficiaries changed. One account wasn't changed.
Great uncle was feeling sick and wanted a trust put together before he died. He named nephew who lived with him as beneficiary for all accounts. Trustee was tasked with bringing trust to his financial advisor at Merrill Lynch who oversaw his accounts. All accounts were supposed to go to the trust which stated nephew was to receive all accounts. One account was a nationwide annuity that had a beneficiary designation over at nationwide. Trustee was unaware of this, but gave trust to Merrill Lynch and Uncles financial advisor stating what needed to be done. Financial advisor gave trustee forms to be signed by Uncle with a notary. Uncle signed all documents. Trustee asked advisor if everything was done and financial advisor confirmed. Uncle dies, financial advisor states the annuity goes to the previous beneficiary, doesn't act like anything was wrong. Claims we had to go to nationwide to change the beneficiary over there but had the information at hand and we didn't. What are our rights?
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