Annuity Beneficiary

[ralphmorgan]

What is the name of your state? Georgia

Here is the situation. My step-mother passed away leaving two nice annuities (AIG and TransAmerica). Listed as a beneficiary on both is Edna X. But sadly Edna X passed away just two weeks after my step-mother and she could collect her part of the annuity. There are seven other names listed and I am one of them. The annuity company says that Edna X's share must be distributed among the seven remaining beneficiaries. I was also told that if all of the beneficiaries were to decline Edna's share that the money would go to the estate of my step-mother but that won't happen because one of the beneficiaries and maybe more will not decline the share. If I decline the share of Edna's part, it will be divided between the other six. Even if I could convince all to decline and it were to go to the estate Edna's son would not get it there either.

I really want Edna X's son to get her share. Can he and how should he go about it?

 

[Dandy Don]

Find out if EdnaX's mother left a last will and testament that was probated in court and if so, find out the name of the executor and inform the executor or the son about this so they can see what the law says about this--the annuity company may or may not be telling the truth about who gets what--sometimes the annuity companies don't check to see what the law actually says.

DANDY DON IN OKLAHOMA ([email protected])

 

[seniorjudge]

What is the name of your state? Georgia

Here is the situation. My step-mother passed away leaving two nice annuities (AIG and TransAmerica). Listed as a beneficiary on both is Edna X. But sadly Edna X passed away just two weeks after my step-mother and she could collect her part of the annuity. There are seven other names listed and I am one of them. The annuity company says that Edna X's share must be distributed among the seven remaining beneficiaries. I was also told that if all of the beneficiaries were to decline Edna's share that the money would go to the estate of my step-mother but that won't happen because one of the beneficiaries and maybe more will not decline the share. If I decline the share of Edna's part, it will be divided between the other six. Even if I could convince all to decline and it were to go to the estate Edna's son would not get it there either.

I really want Edna X's son to get her share. Can he and how should he go about it?

Ralph, were there any contingent beneficiaries listed on either annuity?

 

[BelizeBreeze]

What is the name of your state? Georgia

Here is the situation. My step-mother passed away leaving two nice annuities (AIG and TransAmerica). Listed as a beneficiary on both is Edna X. But sadly Edna X passed away just two weeks after my step-mother and she could collect her part of the annuity. There are seven other names listed and I am one of them. The annuity company says that Edna X's share must be distributed among the seven remaining beneficiaries. I was also told that if all of the beneficiaries were to decline Edna's share that the money would go to the estate of my step-mother but that won't happen because one of the beneficiaries and maybe more will not decline the share. If I decline the share of Edna's part, it will be divided between the other six. Even if I could convince all to decline and it were to go to the estate Edna's son would not get it there either.

I really want Edna X's son to get her share. Can he and how should he go about it?

All of your answers depends on exactly HOW the beneficiary listing is held....are the seven other names contingent beneficiaries or otherwise?