Debt Responsibility
Annuities
Retirement Planning

Is the beneficiary of an annuity responsible for paying the debts of the deceased?

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2010-07-01 12:26:49
2010-07-01 12:26:49

No. The decedent's estate is responsible for paying the debts of the decedent. Generally, an annuity with a named beneficiary is not part of the probate assets much like life insurance payable to a named beneficiary. However, the recipient of an annuity should consult a professional regarding tax issues.

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