Does Annuity Go Through Probate?

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    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    An annuity passes outside probate. The contract generally ceases at the death of the annuitant but if the contract has not been completed the beneficiary designation or settlement option directs the flow of money until the obligations have been completed. This is why it is essential to regularly review beneficiary designations. Money has passed to former spouses, when that was not the annuitant’s intention.
    Answered on October 8, 2014
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