Edward D. Jones sued over pre-divorce clause
A St. Clair County woman and the estate of a St. Clair County man have filed suit against Edward D. Jones Investments, alleging the woman did not receive money after the man's death because of a mistake the broker made.
Dawn and Carroll Bramble opened an account with an Edward Jones' broker, Joseph Delsignore, as joint tenants with right of survivorship, according to the complaint filed Dec. 22 in St. Clair County Circuit Court.
Although they divorced in July 2007, an annuity in the name of Carroll Bramble provided that the beneficiary upon his death would be Dawn Bramble, the suit states. The clause was added before the couple's divorce.
Carroll Bramble died on Dec. 22, 2006, the plaintiffs claim.
But Dawn Bramble had entered into litigation in an attempt to claim the beneficiary money because Delsignore failed to obtain a new beneficiary clause designation after the divorce, according to the complaint.
"The intent of Carroll Bramble was ambiguous and otherwise resulted in litigation between the Estate of Carroll Bramble and Dawn Bramble over the IRA account with a value exceeding $180,000," the suit states.
The plaintiffs claim Edward Jones and Delsignore were negligent by failing to obtain a post-divorce beneficiary designation, by failing to advise their clients of AIG's policy and by failing to advise their clients of a conflict of interest and need to resolve the issues that there was no ambiguity.
In addition to the $180,000, Dawn Bramble and the estate of Carroll Bramble are seeking costs and attorney's fees.
Michael L. McGlynn of McGlynn and McGlynn in Belleville will be representing them.
St. Clair County Circuit Court case number: 08-L-656.