Legal Question in Wills and Trusts in California
Annuities Left To A Grandchild
My father recently passed away. We cannot locate a Will or Living Trust. However, he did leave an annuities account with my daughter and son-in-law as beneficiaies. My brother and sisters state the money must be handed over to the Estate. Are annuities part of the estate, or is the money to go to the persons he chose as beneficiaries?
4 Answers from Attorneys
Re: Annuities Left To A Grandchild
Thank you for your posting on LawGuru.com, and the opportunity for me to help you by responding to your posting.
The answer to your question is, as others have stated, annuities go to the beneficiaries named, and are not part of the estate (unless no beneficiaries are named, which is rare).
I hope this helps. If you do have other questions, feel that you need legal representation, or want legal advice, please feel free to email me directly at rmiller[at]expertlawfirm.com. It's my pleasure to help in any way that I can. Thank you.
Re: Annuities Left To A Grandchild
If the annuity had a beneficiary designation, as appears, then it does not go through or to the estate.
Re: Annuities Left To A Grandchild
The latter. The beneficiaries are paid the annuity payment and it is not part of the estate for probate purposes.
Re: Annuities Left To A Grandchild
The annuity account goes to the named beneficiaries. Only if there are no living named beneficiaries, does it become part of the probated estate.
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