1 reviews | Active since May 2014
Alexander Forbes continues to delay RA payout
Sadly, my father passed away in February 2021 and left us, his beneficiaries, a small Alexander Forbes Retirement Annuity. There was considerable documentation to complete, which was finalized on 09/09/2021.
To date, the funds have not materialized either in cash or transferred re-investments and now suddenly, the Trustees want to use ICTS (Tracing Agents) to verify all of us...... AGAIN!!!
Considering that ALL the Endowment and Living Annuity policies from Alexander Forbes, using the same FICA documents from each beneficiary, have already been paid out (this RA constitutes less than 10% of the total Estate) why is fiduciary duty now such an issue?
This small policy's non-resolution is preventing the winding up of the entire Estate and all for the sake of an investigation"" as to who we are, where we live, where we bank and even, where we work. They already have certified documented proof of everything.
Just another Alexander Forbes ploy to delay the payment of funds and to incur unnecessary fees.
Be very weary when investing your future financial security with this institution.
Now, tracing agents have been assigned to "investigate" to ensure that my father had NO spouse, nor another child/other children, or anyone else deemed as a "dependent" that we did not know about, and then, on their findings, Alexander Forbes (via the Trustess) will pay out the proceeds, as THEY see fit.
What then is the point of a Will?
Did Alexander Forbes advise my father on this legal constraint? Because he certainly went to great lengths in detailing exactly how he wished this investment to be shared, on his passing?
AF did NOT advise me on this, when I made just my two children, my sole beneficiaries of my RA.
Now, another further delay, while an investigation is done as to our legitimacy and whether we DESERVE to be bequeathed at all.
Did you know that an RA is NOT considered part of an inheritance???
Now, tracing agents have been assigned to "investigate" to ensure that my father had NO spouse, nor another child/other children, or anyone else deemed as a "dependent" that we did not know about, and then, on their findings, Alexander Forbes (via the Trustess) will pay out the proceeds, as THEY see fit.
What then is the point of a Will?
Did Alexander Forbes advise my father on this legal constraint? Because he certainly went to great lengths in detailing exactly how he wished this investment to be shared, on his passing?
AF did NOT advise me on this, when I made just my two children, my sole beneficiaries of my RA.
Now, another further delay, while an investigation is done as to our legitimacy and whether we DESERVE to be bequeathed at all.
Did you know that an RA is NOT considered part of an inheritance???