Are Annuities Part Of An Estate?
When planning your future you should consider where your income will come from, also will your loved ones be provided for, “Are annuities part of an estate?”
When you are planning for your future you should consider not only where your income will be coming from, but also whether your loved ones will be provided for. You might even want to ask yourself, “Are annuities part of an estate?”
Are annuities part of an estate?
As with any other assets that a person owns an annuity is also a part of an estate. Just like the house you own or the car you drive or the furniture that is in your house, everything that you own is part of your estate.
How will my assets be distributed upon my death?
Unless you have placed your possessions including your house, car, annuities, bank accounts, etc. into the proper form your assets will be either distributed through a will that you have written prior to your death or through a probate court. In the case of a probate court the distribution of your assets will be decided by people that you probably do not know.
How can you decide who gets your property?
If you plan ahead you can decide who will take possession of your property when you die. Doing so is a simple as adding the person you want to take possession as a beneficiary to instruments such as annuities, bank accounts, titles to your vehicle or home. You can also add an individual as a principle on a bank account as well. Anyway to show dual ownership or POD will do.
Other ways to protect those you love.
Are annuities part of an estate? Yes they are, and the best way to make sure that they go to the person you want them to is to add their name as the beneficiary.
- How Does A Charitable Gift Annuity Work?
- Are Annuities Protected from Creditors?
- How Do Variable Annuities Compare To Mutual Funds?
- What Is A Gift Annuity?
- What Is The Difference Between Mutual Funds And Annuities?
Send this page to a friend ...