Annuity shock

[freakydeaky]

What is the name of your state? Tx
Sorry for the long post....12 yrs ago my father passed and his annuity paid out 6000.00 to each of his 6 children,never was money paid out .We all signed our share right back over to mom. My mother has passed and on her death her children were to recieve the same. Part of her burial was paid in advance (entombment only) which left a balance of 5400.00 remaining so we contacted State Farm and paperwork was dug out brought to the funeral home..we were told we owed 400.00 !!,all that remained was 5000.00 on the annuity. We paid the out of pocket and moved on,that was a week ago and now as a named beneficiary do i have the right to request from the agent all withdraws and dates over the years? a statement of some kind?Where the **** did all that money go??
Any help would be appreciated.
PS. Thanks very much for this free advice site !!

 

[Betty]

ss

What is the name of your state? Tx
Sorry for the long post....12 yrs ago my father passed and his annuity paid out 6000.00 to each of his 6 children,never was money paid out .We all signed our share right back over to mom. My mother has passed and on her death her children were to recieve the same. Part of her burial was paid in advance (entombment only) which left a balance of 5400.00 remaining so we contacted State Farm and paperwork was dug out brought to the funeral home..we were told we owed 400.00 !!,all that remained was 5000.00 on the annuity. We paid the out of pocket and moved on,that was a week ago and now as a named beneficiary do i have the right to request from the agent all withdraws and dates over the years? a statement of some kind?Where the **** did all that money go??
Any help would be appreciated.
PS. Thanks very much for this free advice site !!

Ok, 12 yrs. ago dad passed away & each child's $6000 annuity payment was signed over to mom. I'm not sure exactly how the annuity was set up from your post but in the 12 yrs. since dad passed away is there any possibility mom could have used the "missing" annuity money? edited to add: Did mom become contract owner/annuitant when annuity signed over to her - if so, she could use the money & any bene's only get what was left at her death.

 

[freakydeaky]

Thank for the reply Betty. Since my last post i have contacted State Farm directly,the local agent was not interested ..they will be faxing me a fulll accounting.
Yes she became the owner of the annuity and she did make many withdraws over the years.
Not that it matters now,it was just personal reasons i wanted an accounting.

Another question??
My sister was included on moms checking account 2 mo. ago to pay bills ect..... would that be power of attorney? would that end at the time of death? her account shows 3000.00 , should the bank be notified or just close out her account and split the funds?
Sorry for all the questions !
Thanks again.

 

[Zigner]

Another question??
My sister was included on moms checking account 2 mo. ago to pay bills ect..... would that be power of attorney? would that end at the time of death? her account shows 3000.00 , should the bank be notified or just close out her account and split the funds?
Sorry for all the questions !
Thanks again.

It really depends on *how* she was "included" on the checking account. It is entirely possible that the full amount of $ in the bank account now belongs to sis (passing outside of probate)