In a swift document completion back in 1981, the late Jeffrey Rolison named Margaret Sjostedt, now known as Peggy, as the beneficiary of his retirement account. It appears that Peggy could inherit over $1 million from Jefferson’s funds due to a relationship that concluded many years ago.
The couple met sharing a love for Frisbee and later moved to Sullivan County, Pennsylvania together. They worked at the same place, with Peggy being named as Jeffrey’s retirement fund beneficiary and him being selected as her emergency contact. A deed in 1991 made them joint tenants of their home, leading to their legal marriage in 1994.
Despite a seemingly perfect setup, by 1989, the relationship had ended. Peggy moved out and started her own life.
Ex-girlfriend’s inheritance from late man’s fortune
Jeffrey, on the other hand, moved on to a new relationship with Mary Lou Murray who became his life partner until 2014.
Despite years of togetherness, Mary Lou was shocked to discover she was not entitled to any of Jeffrey’s assets, including his retirement funds. Following their separation in 2014, this loss proved a significant financial blow for Mary Lou.
After Jeffrey’s passing in 2015, it was found that Peggy (now known as Margaret Losinger) was still the designated beneficiary of his substantial retirement funds. This prompted Jeffrey’s brothers to file a federal lawsuit against P&G, the company managing the fund, in an effort to prevent Losinger from inheriting the wealth.
A court order from 2020 froze the funds for Losinger as the lawsuit remains in progress. The brother’s attorney, David Gould, has requested a case review and lodged an appeal in response to the order.
The case serves to highlight the importance and far-reaching effects of beneficiary designations. Such decisions can override a will and must be regularly updated to reflect current circumstances. Federal law requires employers to distribute these funds to the last-named beneficiary or surviving spouse unless they willingly renounce their rights, making careful planning and management of these designations crucial for the intended distribution of assets after one’s death.
