ninegeorge
Junior Member
What is the name of your state (only U.S. law)? Georgia
Dad died owing the IRS back taxes. I recently discovered that his annuity had no beneficiary. Ive been told that the annuity should be paid into his estate and then paid to the IRS. While on the phone with the retirement company, I was also told that if I sent in a letter of instruction, they then would pay the beneficiaries that I named, rather than the estate. If I do this, will this circumvent the estate (IRS hands) and be treated as a regular death benefit and as though my dad had named beneficiaries himself originally?
Ive already received a death benefit that i was named as beneficiary, and I was hoping this annuity would pass to me outside of the estate also.
Any help is greatly appreciated.
Dad died owing the IRS back taxes. I recently discovered that his annuity had no beneficiary. Ive been told that the annuity should be paid into his estate and then paid to the IRS. While on the phone with the retirement company, I was also told that if I sent in a letter of instruction, they then would pay the beneficiaries that I named, rather than the estate. If I do this, will this circumvent the estate (IRS hands) and be treated as a regular death benefit and as though my dad had named beneficiaries himself originally?
Ive already received a death benefit that i was named as beneficiary, and I was hoping this annuity would pass to me outside of the estate also.
Any help is greatly appreciated.