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release of funds - probate

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K

koppcatchr

Guest
What is the name of your state? Florida/Pennsylvania

my brother died in Florida last year. he had no estate, left no will, had no spouse or children, but at the time of his death, he was receiving a monthly annuity check from out late mothers retirement annuity (state of PA). $7500 Closest heirs: 2 sisters

Annuity company wants a "short certificate" to release funds. Florida doesn't have "short cert." i am currently trying to file for summary administration in Fl to ask for a statement allowing release of these funds.

here's the catch. The medical center he died in has made a claim of $3717 on the estate. This claim was sent to me.

2 questions:

Is the annuity money i am asking to be released considered part of my brothers estate?

what if there is not enough money to pay this claim? if i get half that's 3750 - funeral expenses i paid (over $2000). what do i need to do to have the claim discharged.

sorry so long
 


Dandy Don

Senior Member
What is your understanding of what a "short certificate" is? I assume the annuity company is asking for a "short certificate" copy of the death certificate.

Are you saying that the annuity company wants to pay $7500 per month to whoever the heirs are or administrator is, or $7500 in total to close out the annuity?

Have you checked with the annuity company to see exactly what is supposed to happen to the payment after the mother's death--was this son her designated beneficiary even in the event of her death or was there no beneficiary designated?

Yes, this money is considered part of your brother's estate and if you have applied to be administrator you can and must use it to pay off this outstanding medical deb and there is nothing you can do to get it discharged. The good news is that you are eligible to be reimbursed for the $2,000 funeral expense, so it looks like you will be getting the remaining half of the estate if no other debts appear.

DANDY DON IN OKLAHOMA ([email protected])
 
K

koppcatchr

Guest
the total amount is $7500.

my mother named my sister, brother and myself as benefeciaries. She also stated in her will that if my brother did not survive more than 3 months past her death that all monies were to be split between my sister and I. (he lived for 2 years, so I figure the last statement a mute point.)

I thought that annuities were not considered part of an estate because there was no real ownership in the money. i.e. he could never do anything other that direct it to a beneficiary.

I am not really sure what a short certificate is.
 

Dandy Don

Senior Member
Get clarification from the annuity company about what they mean by a short certificate--I suspect that they are only asking for a copy of the death certificate so that they have proof of your mother's death, and then ask them how are they going to issue the check (exactly who is going to be the payee: just one check TO THE ESTATE OF YOUR BROTHER'S NAME or (I'm unclear as to whether you meant the 3 beneficiaries are named in your mother's will or on your mother's annuity) but if you meant 3 beneficiaries of the annuity, will there be 3 separate checks issued, one to your sister, one to your brother's estate, and one to you?

The INCOME from the annuity is a part of your brother's estate, even though he didn't directly own the money that funded the annuity being set up in the beginning.

After you provide the death certificate there may not even be a need to do a summary administration (so if you want to you may want to get that cancelled, but if you are okay with it I guess it would be okay to go ahead and get that completed if you want to), since after you provide the death certificate the annuity company will probably be willing to go ahead and issue you the checks without having to wait for the summary administration decision.
 

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