Those are not tax questions, they are legal questions.
I’m not a lawyer. But, generally your ability to cash out the annuity is based on the terms of the annuity contract. There my be a penalty for cashing it out.
The savings account depends on who it is titled. If it’s a joint tenancy with right of survival (JTWROS), you become the full owner upon the death of the co-owner.
There are no tax consequence with inheriting the other half of the savings account. But, cashing out the annuity usually results in some/most (the growth/earnings portion) of it being taxable.
