Legal Question in Wills and Trusts in Texas
annuity with named beneficiaries in a trust
Two annuities with named
beneficiaries were put into a trust
along with other assets to fund the
trust. The trustee has died and it is
time for disbursement of the trust.
The annuities have been liquidated
and the proceeds sent to the
beneficiaries. Question: does the
trust supercede the named
beneficiaries, that is to say - should
the money received by the
beneficiaries of the annuities put it
back into the trust?
Asked on 2/28/09, 11:04 pm
1 Answer from Attorneys
Re: annuity with named beneficiaries in a trust
Typically, an instrument (such as an annuity) is a contract between the annuitant and the company issuing the annuity. If there is a beneficiary designation in the annuity agreement, that would control.
Answered on 3/01/09, 2:31 am