by needsadvice » Tue Jan 25, 2011 10:41 pm
My father signed a beneficiary of an annuity over in 2000. He passed in 2001. The beneficiary was not his spouse, I am his only child. The annuity was from a settlement he received after being in a accident where a business/corporation was found at fault. I was told once after my father passed by an attorney friend of mine that I should be entitled to half being his only heir. Would this be true? Or have I waited too long to pursue this issue?
Posted: Wed Jan 26, 2011 07:10 am Post Subject:
Uh . . . 2001 to 2011 . . . yes, I'd say you have a challenge with handling this on a timely basis. But also, if your father named a specific beneficiary and then died, only that named beneficiary has an interest in the policy.
Posted: Fri Jan 28, 2011 10:28 pm Post Subject:
are you the beneficiary? or are you contesting?
who ever is beneficiary is entitled to the proceeds. regardless of who the beneficiary is, ie child, spouse, business partner, etc. Life insurance and annuities typically pass direct to the beneficiary and tough to contest...Personally, I've never heard of it being done. They are structured this way for a reason, do they cant be contested and not have to be probated.
regardless, you'll have a tough time trying to collect after 10 years. why now?
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