Estate Planning & Fixed Annuity Forum.
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Posts: 3
Reply with quote  #1 
My wife has a 50,000 dollar annuity with only her name on it. There

is no will. If she died before me would I be entitled to the annuity ?


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Posts: 373
Reply with quote  #2 
I suppose by your comment you mean your wife is the Annuitant and the Owner of the annuity.

It is a mistake not to have both a primary beneficiary named and also a contingent beneficiary.

If no beneficiaries are named in the contract the proceeds would be paid to your wife's estate and distributed by and through the Probate Court System under her Last Will and Testament, if any, if no will then according to your state's probate laws.

That would be a huge mistake because now a normally EXEMPT cash asset would now be subject to creditor claims against the Estate.

You wife needs to get a beneficiary change form from the company and make proper beneficiary designations.

Best regards,
Fiduciary Financial Consultant
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