Death of Annuity Beneficiary

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Death of Annuity Beneficiary

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Sunshine State

Posted 9/20/2008 9:43:12 PM

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An annuity contract of a deceased aunt was discovered this past August. This aunt passed away in 2004 and the estate had been settled well over 2 years ago. The annuity contract lists my mother, a sister to the deceased aunt and another sister of the deceased as primary beneficiaries. My mother passed away in July of this year and her estate is still in probate. The insurance company has advised the attorney of my deceased's aunts estate, as a result of a beneficiaries death, the remaining beneficiary is entitled to 100% of the annuity proceeds. Why would this be? Would not my mother's estate receive my mother's portion of the annuity, since her death did not occur before the death of my aunt? It does not seem logical that because of a delay in filing the claim, it would change how the proceeds were to be distributed.

The discovery of this annuity was just made and my mother's estate attorney has yet to receive documentation on all these happenings, therefore they have not provided a comment on this issue as of yet.

Post #133

Harry S. Margolis

Posted 9/23/2008 10:07:12 AM

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I agree with your assessment. The beneficiaries should be determined upon your aunt's death. The claim of any beneficiary who then dies should pass to her estate. Your estate attorney should be able to pursue this successfully.

Harry S. Margolis

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maimai

Posted 11/26/2008 9:41:04 PM

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Hello every one!Good happiness and have a good day to you.I'm new member in here.Hope I can learn more from this forums :-D

lovely woman

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