Legal Question in Wills and Trusts in Florida
Beneficiaires named on Annuities
If the deceased person has a will that states how assests are to be distributed but has insurance policies and annuities that have designated beneficiaries, are these to be also distributed equally among the heirs? Or are the named beneficiaries solely entitled to his money?
Asked on 3/01/06, 12:37 pm
1 Answer from Attorneys
Thomas Shigo
The Shigo Law Firm, P.A.
Re: Beneficiaires named on Annuities
Unless the estate or decedent is the beneficiary, insurance and annuities will pass automatically (and directly) to the named beneficiaries outside of probate. These should not be partitioned or shared with other estate heirs or devisees. However, if these items are included in the taxable estate, they may be required to pay their apportionable share of any federal or state estate tax.
Answered on 3/01/06, 2:35 pm
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