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	<title>New answer on: Do Annuities Avoid Probate?</title>

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		<title>By: J Paul Wilson CFP, CHFC</title>

		<link>https://insurancelibrary.com/annuities/do-annuities-avoid-probate</link>

		<dc:creator>J Paul Wilson CFP, CHFC</dc:creator>

		<pubDate>Wed, 03 Jun 2015 14:59:39 +0000</pubDate>

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		<description><![CDATA[In Canada, annuities issued by life insurance companies can bypass probate if the beneficiary of the policy is named and it is not the estate. 

This would include: 

1. Guaranteed Investment Annuities (GIAs) that are similar to Guaranteed Investment Certificates GICs) 

2. Guaranteed Investment Funds (GIFs) also referred to as segregated funds that are similar to mutual funds 

3. The guaranteed portion of a term certain or a life payout annuity.

Avoiding probate and any other fees is one benefit of bypassing the estate another is privacy. 

You can find additional information at www.jpw.ca , if you have any more questions please do not hesitate to ask.]]></description>

		

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		<title>By: Drew Delaney, CLCS</title>

		<link>https://insurancelibrary.com/annuities/do-annuities-avoid-probate</link>

		<dc:creator>Drew Delaney, CLCS</dc:creator>

		<pubDate>Tue, 28 May 2013 16:22:14 +0000</pubDate>

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		<description><![CDATA[Let me begin by saying that I do not sell annuities (I do not have my series six license) and I am not a licensed attorney.  However, prior to becoming an agent I went to law school and clerked in an probate/estate firm for two years.

Annuities can pass outside probate so long as you name a beneficiary (just like life insurance).  Typically, a spouse is named as the primary beneficiary and children as a contingent beneficiary. Many people currently use a Revocable Living Trust to avoid probate, and the trust can also be named as a contingent beneficiary.  

If no beneficiary is named, however, your annuity will have to pass through probate.  And, depending upon its value the inventory fees could be quite expensive.  

I hope this helps answer your question.  ]]></description>

		

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