➡ The story emphasizes the importance of regularly updating the beneficiaries on your bank and retirement accounts. It tells of a man named Jeffrey who, in 1987, named his then-girlfriend as the beneficiary of his retirement account. They broke up in 1989, but he never updated the beneficiary information. When he died in 2015, his ex-girlfriend from 1987 stood to inherit his million-dollar retirement account, despite having no contact with him for years. The story serves as a warning to ensure your assets go to the intended recipients by keeping your beneficiary information up-to-date.
➡ Our sponsor, Patriot Gold Group, suggests that gold is set to increase in value due to global instability and changes in the stock market. They offer IRAs and 401ks backed by precious metals. The text also shares a personal story about a friend named Chris who had to pay a large portion of his retirement account to his ex-wife due to a poorly advised agreement made during their divorce. Lastly, it discusses new California laws, including a limit on security deposits for rent, a right to repair for electronic devices, and an additional tax on gun purchases.
➡ A new insurance policy offers $10,000 for legal fees and $20,000 for property damage for just $100 a year, which could be popular due to the risk of squatters. In another story, a customer at a bikini barista in Seattle threw drinks at the barista over a $20 charge, leading her to break his windshield with a hammer. Despite both parties committing assault, it’s unlikely anyone will be prosecuted. The author encourages readers to share their stories, like the video, subscribe, comment, and share it.

Hey, it’s Dan. Welcome back. This is I, Allegedly. And I’ve got a good one for you today because I have a serious warning for everybody that you need to look at and take seriously. Please don’t forget to hit the like button. Please don’t forget to subscribe to the channel. And today we have a sponsor, Patriot Gold, which I will talk about in a little bit. First things first, this is something that most people don’t even know about. And that is beneficiaries on your bank accounts, your retirement accounts, and things like that.

I want to tell you a couple stories. And the first one is Jeffrey Rolison. Jeffrey met a girl in 1987. 1987. And playing Frisbee at the park and met Margaret. Margaret O’Malley. Okay, nice girl. Anyways, they start dating, they move in together, and Jeffrey gets a job at a little company called Peach, PG&E Procter & Gamble. Oh, okay. So fills out his retirement form, you know, when they first start dating. And, you know, puts her as beneficiary to his retirement account, which he was a kid, and he had no idea what it was going to be worth someday.

But, you know, move forward to 1989. 1989, Jeffrey and Margaret break up. She moves out, she moves on with her life, and goes and gets married. Okay, has a couple kids. And then a few years later, Jeffrey meets Mary. Mary O’Malley, nice girl. And they get, you know, they live together, they never get married. And, you know, they are dating up until 2014, then living together until 2014. Mary Lou moves out in 2014, and poor Jeffrey dies in 2015. Okay, well, Mary goes to claim his retirement. Well, you have no status, you’re just some girl, some girlfriend.

So, she gets nothing. The poor turns her away. Come to find out, the brothers step forward and say, hey, we want the retirement account. We hear it’s substantial. It’s a million dollars. Now, it grew to a million dollars for this working-class guy. No, you know who it goes to? Margaret. The woman that he listed, this is his beneficiary in 1987. Ouch. They broke up in 1989, and she’s going to stand to inherit one million dollars, because he never filled out the form and redid it. So, if this doesn’t give you an idea of things to do, you know, between now and the end of the month, you need to go and you need to change the beneficiaries on all your bank accounts.

Because one thing that’s been sent to me from bankers is how serious this is. And people don’t realize how, if you don’t have a beneficiary, most states you’re going to go to probate. It’s a mess. Now, let’s go one step further. The way that this works, and I’m not giving financial advice, I’m not giving you trust or inheritance advice or anything like that, you need to talk to a trust lawyer and an inheritance lawyer to say the least. But, if you, you know, are married, goes to your spouse. If your spouse dies, goes to your kids, you know.

And if you’re not married, let’s back that up. You’re not married, it goes to your parents. Well, Jeffrey’s parents are gone, okay? So, it doesn’t go there. Well, Jeffrey had no kids, so it doesn’t go to him. So, it would go to his, you know, siblings, brothers in this case. And both working class guys, mechanic, and I forgot the other position the other brother did. But the point is, a million dollars will go a long way for these guys. And they’ve been fighting this since, listen, 2015. It’s now 2024, guys.

And guess what? It’s not anywhere closer to being resolved right now. So, if you don’t pay attention to this, you’re a fool. Because everybody enters a relationship with the best of intentions. And from a guy who’s dated a lot, there’s been a lot of women in my life that, oh wow, I could really spend a lot of time with her. Maybe this is it. But then it doesn’t work out for whatever reason. Just blame me, okay? Because they always do. Okay? So, it’s my fault. But the point is, is that I could have been married many times over during this time, or had relationships, or could have been foolish enough to name people as beneficiaries over and over and over again.

And because I’m a procrastinator and a salesman, and I’ll get to that later, I would have forgotten about this. So, you have to look at this, guys, because to name somebody as a beneficiary from 1987, 1987, let me say it again, to do that and to have it, you know, go to this woman is insane. It really is. Now, I’m not saying any party in this is bad at all, but poor Jeffrey’s dead. And what did Jeffrey intend to have happen with his money? You know, now here’s the thing. He’s got used BMWs, he’s got collections of different things, about 66 grand in the bank account, and, you know, two cats, you know, and then his girlfriend that he broke up with, she was denied by the court.

You have no standing, no standing. Remember that. So, the brothers step forward, and it’s determined that, hey guys, you know, you’re not entitled to it, because Proctor and Gamble is going to pay the named beneficiary. That’s what they’re going to do. And this account just withers away, and sits there earning interest, and it’s gonna go to this woman that he named in 1987. I’m telling you this, but I have a great, you know, story below from a bank that I’ve never heard of, where it’s like five reasons why you need to have a beneficiary name, and it’s ease of asset change.

It’s ease of getting the money to your heirs, and to the beneficiaries, and again, when you’re gone, nobody wants you gone. And people that want your dead money are not good people in the first place, but you don’t want to leave a headache for somebody. Now, personally, I just went through this when my girlfriend passed away, and relatives who didn’t know where she lived until three weeks before her death. Think about what I just said. These people were not in her life for years, for several years. They had no idea where this woman lived until three weeks before she passed, and then after she passed, hey, this boyfriend, this guy, this Dan character, he’s no good.

We need to step in, and you need to protect us from him. Oh, really? Well, thank God, thank God, there was a will, and thank God there was a trust that named certain things, and didn’t name these two jokers, okay? So, not everybody’s that lucky, but still, because of the fact that they wanted to make it difficult, still had to hire a person to protect what she wanted, and again, because we had a very open relationship, and we talked about everything, which you should too. If you don’t talk about finances, that’s on you.

We want to just keep it kind of to ourselves. Okay, well, you’re gonna have problems like Jeffrey does, okay? Think about this. They’ve been dealing with the court for nine years. Try to go through probate court. What do you think that’s gonna cost? How many of you have nine years left of your life? Think about that. What could happen? I think just think Jeffrey thought he was gonna die at 59 years old? No, no way, and he did, and it’s sad. It’s tragic, and with that, you have to look at the fact that people need to prepare.

So, even the best of intentions, people can still fight it, but it all worked out for Dan. Cost me some money, and it cost me that I’ll never speak to these people ever again, as long as I live, and that’s what you have to think about. So, this is wild. You need a, you know, you need a will, at least. You need a trust, at least. You need to go and have beneficiaries on all your bank accounts. Dan, I have a thousand dollars in the bank. I don’t have, there’s nothing I need to worry about.

Seriously, if you’re gone, you don’t want to name that your cousin, your niece, your daughter, your son, somebody that that’s gonna use that money, because the sixty-six thousand dollars, you didn’t have a beneficiary on that account. If he would have done that, it would have saved them grief with his estate. So, think about this guy. This is really serious, and it’s something that people always think, oh, this is somebody else’s problem. I’ll deal with it in the future. Nobody intends on dying suddenly. Wow! Chuck died suddenly. Jeffrey died suddenly.

You know what I mean? But Jeffrey died with a million dollar, you know, retirement account. Bravo to that dude for never dipping into it, never spending it, and nobody’s gonna get access to that for years. It’ll still take years to get this figured out, but most likely, the original woman from 1987 is gonna get his money, who he’s had no contact with, no relationship, nothing, nothing, nothing, nothing during this time. Let me know what you think about this, and I still have one more wild story to share with you.

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Now, one more story. Think about this. I have a buddy of mine, Chris, who I’ve known since I was a kid, since junior high, and, you know, went to high school together, friends, and then, you know, after high school, drifted apart, he did his career, I did my stuff, and then last year, we reconnect, okay? Now, Chris has been married to the same woman for just over 25 years, has two great kids, and, you know, he reaches out to me one day and says, I have a problem, and I said, you know, what’s that? What can I help you with? This is something you need my help with, and he goes, yeah, I do.

I need some serious advice right now, and that is, I was married prior to my current wife. Oh, I didn’t know that. Yeah, I was married for three years, and I did something very stupid. Oh, yeah, what’s that? Well, I went, and to get out of my divorce, when I was married to this woman for three years, I agreed to give her, you know, a huge percentage of my retirement account, and this was when he was a child, when the retirement account was just set up. So think about this. This was almost 29 years prior to he and I having this conversation last year.

What am I gonna do? I said, Chris, think about this. Every month you’re gonna have to write this woman a check was the deal, and I said, this is gonna be horrific. Think about you sitting there month after month after month and writing this check to this woman that your wife is, you know, she knows that you were married before, but she’s never met, and you’re gonna have that drain on your finances forever. So my advice was, let me get you the best lawyer I can, and let’s go after this and break this agreement.

Or you can sit down and you can make her a financial offer, and you can sit there and say, one time payment, and that, or, you know, or you can plan on this, you know, being tied up in court. Now think about this. Jeffrey’s estate has been tied up since 2015, and my friend, he would have done the same thing, okay? Not because he felt he was taken advantage of at the time, got some bad advice from his lawyer, who’s dead, by the way, now, and thought that he made a huge mistake.

So with that being said, you know, you’ve got to sit down and and fight for what’s right when you run into these situations. It’s absolutely, you know, pivotal. So he made her a financial offer, and the woman now lives in Europe, okay? So this is a, you know, a huge payday. Oh my god, you’re retiring now? Oh, I didn’t know that. Fantastic. Congratulations to both of us. No, it’s not. I don’t know. I’m gonna tie you up in court and do everything I can to get you back here to attend court, and probably zoom because of where she’s at.

They probably would have not had her show up, but made her a financial offer. She bumped it up a little bit, and then said, pay me in euros, and I’ll be done with it, and there won’t be any financial claim. But he had to do this, okay? Which is wrong. So look at your beneficiaries. Look at the agreements that you make, and in haste, in haste, people make stupid agreements. I just want to get out of this marriage. I had no kids, but nothing. But he got bad advice from his lawyer, and agreed to give her this retirement account.

And again, when he was married or he never thought he would retire, what’s that? I’m never gonna keep this stupid bajab I have. He did, and he’s retired from it now with a pension that she would have a percentage of forever. So look at that. Now, the next thing, I get a kick out of the California laws, and because of California, we do this in a spurt of every six months. So January 1st there’s new laws, and in July 1st there’s new laws. Walking under the pier right now, something you guys are never saying, this is the big Huntington Beach Pier.

So first things first, all these new laws that come into effect. There’s a roofie law, okay? Well, you’re not supposed to roofie people in a bar, let’s put it that way, but now bars have to sit there and offer roofie drugs or drug testing. Offer roofie drug testing when you go into a bar. So if you think your drugs have been spiked, you can check your drinks. And again, if you’re with somebody you think is spiking your drugs, you’re with the roofie. Number two, security deposits on rent. Think about this.

It’s one month. That’s it that they can ask for now, regardless of your credit, regardless of your past history, but what this is going to do is it’s a victory for the common man. No, it’s gonna make it so that I’m gonna want to rent to you. We want a better person if we’re only gonna be able to get one month’s rent, because I’ve been there. I’ve been going through a moment once, tell me who was the toughest man I’ve ever met? How can I say that? Okay, who was a landlord who said, Listen, you all, you know all those sexual harassment things and all those laws about treating people equally.

That doesn’t apply to me. It’s what she told me. So you going through a divorce, I don’t want to buy your BS and she didn’t say BS. I want to know what’s going on in your life as to why you should be sleeping and putting your your head on a pillow in my house. And number two, I do spot checks every now and then. I just show up. You have a problem with that, then you’re never gonna rent here. So again, landlords do what they want to do. Okay, needless to say, I didn’t get that house.

Okay, let’s put it that way. The next thing that’s kind of wild is the right to repair. You’re going to have a if you buy an electronic device over, think about this over 50 bucks, they have to give you repair products to fix it. So are they going to give us repair products for iPhones? Who knows? No more junk fees. They have to disclose all junk fees, which they’re making them illegal. And the final thing is there’s going to be a quote excise tax excise tax on your gun purchases of 11%, which is basically making the price of a gun have double tax right now.

So a lot of people are racing out to buy a firearm right now prior to July 1st. So let me know what you think about all this. Get your beneficiaries in order. Don’t make stupid deals. And if you’ve made stupid deals, you need to tell your spouse, your maid, whoever. Because like I said, everybody has the best of intentions today. I’m going to finish this video with these last couple stories. And Rosemary wrote me and said, Dan, I love your channel, but I love to see the Pacific Ocean. And lately we’ve seen a lot of Newport, a lot of the island and a lot of boats.

That’s great, but I want to see the ocean. So Rosemary, this is for you. And I’m going to be in town all this week. So I’m going to make sure I go to some different places and you’ll see some different stuff. But this is Huntington Beach. That’s the beautiful pier. And I walked out here today to film this. But let’s get back into it. Finish the video. Couple things. There has been such a problem with squatters. That is somebody illegally taking over somebody’s house that they have no right to and claiming that it’s theirs.

And right now there is a insurance company, proper insurance. Think about this. You can’t get insurance from State Farm for this, but proper insurance is now going to offer squatters insurance for $100 a year per property, which is nothing. They will give you $10,000 of legal fees covered and $20,000 with the damage covered your house for 100 bucks a year. I think this will be the most popular insurance ever, because of the risk of nobody intends on having to kick somebody out that’s a squatter. But this is going to happen.

So get ready to get that. Now the final story and this is wild. Look at this story below. There is a bikini barista. You pull up to this little hut. And the woman that makes your coffee is in a bikini. Wow, isn’t that amazing? Okay, you could walk in the beach and see a hundred bikinis. But if you live in Seattle, I guess that’s a big deal. What happened was there’s this one guy who’s pulled up to this bikini barista a few times who’s kind of a jerk. Well, this time he lost it.

He ordered a iced coffee in a water and it equaled $20 and wasn’t going to stand for it. So there’s a video of him, surveillance video of him throwing the drinks on this woman. She leans out the window with a hammer, a hammer and and breaks his windshield. Unbelievable. That’s what we’re coming to. Well, this is if you can do that, I can do this. And again, it’s Seattle. So who’s going to get prosecuted on this? Probably nobody. But again, you know, he committed assault. She committed assault and battery.

I mean, it’s crazy. All this stuff is just nuts. But nothing’s going to happen. Correct me if I’m wrong. Email me at hello at iallegedly.com. Reach out with your story ideas. I appreciate all the news you send me from around the world. It’s always fantastic. Please don’t forget to like the video, subscribe, comment, share it and onward and upward guys make good choices. I’ll see you soon. [tr:trw].

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