You'll need to sign in or create an account to connect with an expert.
Even if your father has not designated a beneficiary for his annuity, the annuity account holder or the state cannot "take" the money.
When a person dies intestate, or without a will, the laws of the state where he resided determine how his estate is distributed. According to these laws, specific family members, or heirs, have a right to inherit a share of the decedent's property.
Even if your father has not designated a beneficiary for his annuity, the annuity account holder or the state cannot "take" the money.
When a person dies intestate, or without a will, the laws of the state where he resided determine how his estate is distributed. According to these laws, specific family members, or heirs, have a right to inherit a share of the decedent's property.
It's possible for an annuity to have no death benefit. It depends on the annuity contract.
If the annuity does have a death benefit and the annuity has no designated beneficiary, the death benefit distribution will be made to the default beneficiary indicated in the annuity contract.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
dllundgren
Level 1
ladyc99
Level 1
QRFMTOA
Level 5
in Education
mjlresources
New Member
mysmartloan19
New Member