My Mom passed away. In her will she left my Sister and I the Trustees. My Mom has an annuity, her annuity stated that the The Trust was the beneficiaries. We found something with the Grandchildren's name and social security numbers on it thinking it made the the beneficiaries of this Annuity. We want to distribute everything properly. Is the Trustees the Beneficiaries My Sister and I or will the Annuity state the actual names on it?
1 Answer from Attorneys
Once you contact the annuity company, they will let you know if the trust is the beneficiary. If so, the annuity company will have a form for you to complete. If not, the annuity company may not tell you who the beneficiary is, just that it is not you or the trust. You may assume that the grandkids are the beneficiaries and you (if the kids are minors and you are the parent) will complete the forms as directed by the annuity company. Each company has its own procedure and forms for this.