Can Annuities Be Inherited?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Yes, annuities can be inherited. When the annuity is inherited during the annuitization stage, the recipients of the annuity payments will need to pay income tax on the payments according to the tax bracket they are in. The annuity must be the type of annuity that is paid out for a certain period and not the lifetime income annuity; otherwise, the annuity payments would end when the annuitant's life ended.
    Answered on July 23, 2013
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  2. 440 POINTS
    Albert Rasmussen
    owner, retireright, sc
    Most definately yes that is one of the main strengths of annuities is the easy money transfers to the beneficiary. You have complete piece of mind that your heirs will inherit your money. This in many cases does away with potential probate courts and its cost. They can be changed should one of yours heirs passes before you.
    Answered on September 2, 2014
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