| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 477.1 | | ZENDIA::SCHOTT | | Thu May 20 1993 10:56 | 3 |
| I thought it was the law that you can not be solicited to
purchase funds without being given a prospectus. Sounds
like they are going to be in big trouble.
|
| 477.2 | Get a lawyer to write a letter | TLE::JBISHOP | | Thu May 20 1993 12:24 | 17 |
| We don't know the initial agreement, which may well cover this action,
if your mother-in-law agreed to have her affairs managed (given what
you've said about her, it's quite possible she just signed such an
agreement).
I'd suggest getting a lawyer to write a letter requesting "unwinding"
of the sales--this wouldn't cost more than $50 to $100 (at a guess), if
you already have a lawyer. Letters are easy to write, and it sounds
as though you have a case that your mother-in-law didn't understand and
there was thus no valid agreement.
I'm a bit amazed that a 50-year-old, presumably in reasonable health,
is demanding to be supported by her child and the child's spouse,
particularly to the tune of $900 a month. But that's your decision
as a couple.
-John Bishop
|
| 477.4 | Good luck with the letter! | TLE::JBISHOP | | Thu May 20 1993 14:53 | 13 |
| By your node name, I assume you're in ZK?
If you don't have a lawyer, I can suggest David Lieberman
in Nashua. I recommend him because he was willing to pass
me on to an expert in a particular field when expertise
was needed--in other words, he didn't take a stab at something
out of his depth to make money at my long-term cost. He's
done real estate and wills for me.
He should be able to either write a letter or point you to
an appropriate investment lawyer in the area.
-John Bishop
|
| 477.5 | Write the letter yourself first. | SOLVIT::CHEN | | Thu May 20 1993 16:13 | 17 |
| I would write a letter to him myself first and demand that they show me
some prove in *WRITING* that they had the authorization for the
transactions. If they can not provide such prove. Then, I would request
them to restore my account back to its original allocation. I would
also make it clear to them that if they refuse to do this, I would be
forced to seek legal actions against them. Sometimes, this will do the
trick. Getting to lawyer to write you a letter is not cheap. It'll cost
you anywhere between $100-$200 per letter. I have done that before and
guess what? It didn't even help with the matter at all. :-( So,
basically it was like throwing money in the wind.
You have to let the company know that you are in a good legal position
against them and you know what you are doing. You mean what you say and
you mean business. I don't think they want to get involved in a legal
battle which they know they don't stand a chance to win.
Mike
|
| 477.6 | Give a deadline and a desired action | TLE::JBISHOP | | Thu May 20 1993 17:38 | 20 |
| It's certainly worth a try. Be sure to mention what you want done,
rather than just complain. e.g:
On <date> transactions detailed below were made. I am not
aware of any authorization given by me or <MIL> for these
transactions. I expect you to undo those transactios,
restoring <accounts> to the state they would have been had
those transactions not been made.
If I do not hear from you within two weeks, I plan to start
legal action.
I'd also make sure they write up the changes so that there's no
taxable income/gain to you, i.e. that they either pay any incurred
taxes or somehow undo the transaction as far as the IRS is concerned.
Send it registered, return receipt requested and keep a copy.
-John Bishop
|