What to do about an annuity and probate?

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What to do about an annuity and probate?

My mom and dad passed away 2 months ago. We found out they have n annuity. I understand from the anuity company that when mom passed away, dad was the beneficiary, and since dad passed away, the estate is the beneficiary. Dad was in a nursing home for the past year and he was on state health at the time. Is there any process whereby the successor heirs (children) may take dad’s place and is it possible to waiver this from going to probate?

Asked on March 26, 2013 under Estate Planning, Massachusetts

Answers:

Catherine Blackburn / Blackburn Law Firm

Answered 8 years ago | Contributor

The answer to your question is "I doubt it."  I don't know what kind of annuity your Mom and Dad owned before they died.  However, your state probably requires that the remaining value of the annuity be used to repay for your Dad's nursing home care.  Most states require this.

You should consult an Elder Law attorney in your area to see if anything can be done to pass all or a portion of the annuity to your Dad's heirs.  There probably is no way to avoid probate on this.  The only way to avoid it is to have a beneficiary listed on the annuity and it seems like your Dad was the last named beneficiary.


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