Legal Question in Wills and Trusts in Ohio
annuitty
my mother in law has an annuity which has her as benifactor and my husband and myself if something would happen to her.her husband passed away in january2002 and the attorney she hired is asking lots of questions about this annuity. does she legally have to turn this information over to the attorney who is handling the probate? thankyou for your time . sincerly, kimberly r sakalosh
Asked on 8/08/02, 8:16 pm
1 Answer from Attorneys
Frank Rozanc
Frank J. Rozanc, Esq.
Re: annuitty
The attorney is probably asking about where the money to purchase the annuity came from. If it came from her husband, it could be taxable for estate purposes as a "transfer in contemplation of death".It must be reported on the estate tax return.
Answered on 8/09/02, 9:40 am
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