atomicnitelite
Junior Member
My mother had an annuity which I am the named beneficiary of in the annuity document. In that agreement it says " less any amounts received by her estate from the corporation"
In another agreement from the same company the annuity is from my mother was given a loan of extra money that says "this loan is totally separate from the annuity and will be paid back to the company out of my mothers estate upon the death of xxxxxxx and xxxxxxxx (two people who are still alive.)
The way I understand this is that
#1. the annuity is not part of my mother's estate since I am named in the annuity contract as the beneficiary and therefore I am not responsible for the loan. My mother's estate is.
#2. The loan is separate from the annuity and cannot be attached to the annuity for repayment.
The company however wants their money from the loan and is saying that I am wrong. They are aware that my mothers estate has no money in it so I believe they are trying to go after the annuity.
Am I wrong in how I am interpreting this?
Thanks for any help.What is the name of your state (only U.S. law)?
In another agreement from the same company the annuity is from my mother was given a loan of extra money that says "this loan is totally separate from the annuity and will be paid back to the company out of my mothers estate upon the death of xxxxxxx and xxxxxxxx (two people who are still alive.)
The way I understand this is that
#1. the annuity is not part of my mother's estate since I am named in the annuity contract as the beneficiary and therefore I am not responsible for the loan. My mother's estate is.
#2. The loan is separate from the annuity and cannot be attached to the annuity for repayment.
The company however wants their money from the loan and is saying that I am wrong. They are aware that my mothers estate has no money in it so I believe they are trying to go after the annuity.
Am I wrong in how I am interpreting this?
Thanks for any help.What is the name of your state (only U.S. law)?