Endowment =please help!

dale7601

Can anyone tell me how to get a court to order the removal of a name from a joint endowment?
I have tried the FSA, they’ve been helpful but they say they cannot assist. I have an endowment that has joint names, myself and an ex-partner (ex girlfriend split in 2001). At the time of the split, solicitors drew up papers relating to monies to be divided and removal of her name from the mortgage and bank accounts. The endowment part of the mortgage wasn’t processed. I have tried unsuccessfully to trace her and get her name removed from it since 2005.
The endowment now appears to be owned by Phoenix life and they state their hands are tied as they need confirmation from both parties before they can action any changes. This i completely understand, but i am at a loss as to how i can get this resolved. The company refuse to send correspondence to any other address, accept the one detailed on the endowment (of which that was sold in 2007!). The last phone conversation i had with a manager in 2009 ended with them stating that i have to get a court order to remove her name or even acknowledge my new address.
Incidentally, the original solicitors from 2001 are no longer appear to be trading. Like i said, PLEASE HELP!

dunstonh

Can anyone tell me how to get a court to order the removal of a name from a joint endowment?

You cannot. The policy is qualifying under HMRC rules and any amendments made to the actual policy would break the qualification rules.

However, you can change the assignment and endowment providers will accept that.

Typically, the assignment would be handled by the solicitor and/or your IFA (if you use one).

The company refuse to send correspondence to any other address, accept the one detailed on the endowment (of which that was sold in 2007!).

That is unusual as change of addresses dont require signatures. The servicing IFA can even change the address on your behalf. Otherwise, just one party should be able to.

You do need your ex girlfriend to be involved in the process but it is straightforward. Look up policy assignment and you should find some resources on the web to help you understand the process if you want to DIY.

dale7601

Am really confused! - how can i have her involved if i dont even know if shes on the planet? (numerous adds checked)- i have spoken to several IFAs and solicitors and all have differing advice, some similar to the above, some not.
The problem i have, is that the endoment co understandibly wont move from their point of both agreeing proir to anything. This i completely understand , but i am sure there must be a system or procedure in place for dealing wth situations like this. I surely cant be the first in the UK to have this situation..

I understand the procedure is very straight forward if both parties are available, the problem is, both are not!

I can understand the situation of a court being the only place to get this resolved considering the amount of verification i have. I am just completely flabergasted that as stated above that i cant even go down that route!

CAN ANYONE OFFER ANY MORE INFO PLEASE, PLEASE, PLEASE:money:

Gorgeous_George

You had a joint mortgage with somebody who has no family of friends?

GG

dale7601

I have done the usual, visited the parents when in the area, (i now no longer live in the county!) have looked for on facebook, twitter, my face... etc.

-i guess some people prepare real friends has opposed to make believe..

Like i said in my original post, i want advice as to the court procedure.

I like most people, would tell a real expartner after 8,-No 9 years to take a hike if they stalked me then asked me to sign some legal papers,

Happy new year

EdInvestor

What is the surrender value of the endowment?Would she not find half of that value sufficiently attractive to make a move?

dale7601

Woah woah woah! -ur gettin me worried now

i have paid into it since 1997, we agreed a final amount when we split , this was paid and legal papers drawn up to cover it severing all of our ties. (the split was amacable and nothing unto ward was done) -just a stupid solicitor error.


have been reading into it and have found other examples on other forums where phoenix life have instructed the same "get a court to order it".
-interestingly it makes me think i will have to dig her body up and wheel it into the same glasgow office that said they need her signature if i find out shes kicked the bucket! -suprisingly the address for phoenix life is the same as abbey of whome sold me the bleeder way back when endowments where grooovy!:D

dale7601

The reason why i came am here, -its my new years resolution to get it sorted once and for all. I only attempted it in the past when i was off work on holiday and i found it a great way to ensure that i did the diy as after speaking to phoelix life i always seemed to have the urge to destroy things.

dunstonh

i have paid into it since 1997, we agreed a final amount when we split , this was paid and legal papers drawn up to cover it severing all of our ties. (the split was amacable and nothing unto ward was done) -just a stupid solicitor error.

The solicitor also ballsed up by not getting it assigned.

suprisingly the address for phoenix life is the same as abbey of whome sold me the bleeder way back when endowments where grooovy!

Not much of a surprise. Phoenix bought the Abbey owned insurance companies.

It is not Phoenix being difficult here. As it currently stands both you and your ex have a claim on that policy. The solicitor is at fault but you say they dont exist any more. Which is not helpful.

Gorgeous_George

Surrender it and have the money paid into your account - job done.

GG

dunstonh

Gorgeous_George wrote: »

Surrender it and have the money paid into your account - job done.

GG

two signatures required. Same problem. Plus, money laundering rules now cover maturities and surrenders so ID on second party would be needed as well.