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Which type of annuity pays an amount per year to you and your spouse until the last one dies?
A joint annuity with a survivors benefit. However you purchase the joint annuity first. The payout procedure doesn't actually take affect until you would decide to annuitize the annuity. This is beneficial because if the first spouse passes away before the annuity is annuitized (set up for lifetime payments) the living spouse has the ability to receive it as a single payout annuity giving them a larger payment each month.
What else can I help you with?
What exactly is a life annuity?
A life annuity is an insurance product that gives a predetermined amount of money on a periodic basis to an individual until the receiver (referred to as the annuitant) dies.
If your spouse dies and has credit cards in their name only can the surviving spouse negotiate with the creditors to get the amount reduced?
yes they can
What is a life annuity with period certain?
A life annuity with period certain is a type of annuity that provides regular payments for life, with a minimum guaranteed period during which payments will continue, even if the annuitant dies. If the annuitant dies before the end of the guaranteed period, the payments will continue to a beneficiary until the end of that period.
When a spouse dies does the living spouse have to pay medical bills for the dead?
The estate will be responsible for the bills. The spouse indirectly will pay, as they cannot inherit until they are resolved.
What is the percentage of a spouse dying after another spouse dies?
100% everyone dies.
How do you transfer an annuity after spouse dies?
Check with the holder to see if a beneficiary was listed for the account. If no beneficiary was listed then the annuity was owned by the decedent and their estate must be probated. The duly appointed estate representative will have the authority to distribute the funds (by Will or the laws of intestacy) once any debts of the estate have been paid.
In Texas, when a spouse dies, who is entitled to the house?
In Texas, when a spouse dies, the surviving spouse is typically entitled to the house if it was community property or if it was left to them in the deceased spouse's will.
can the spouse live in the home after the spouse dies under a reverse mortgage?
Yes Watson. But the real question is: can the spouse spouse the home after the reverse mortgage dies live?
If spouse dies does the widow still have in laws?
If child dies, does his spouse have any legal claim with in-laws home?
My mother has a single premium deferred annuity when she dies do her children receive cash from that annuity?
Are the children the beneficiary's of the Annuity? Annuity's are like Life insurance, they have named beneficiary's listed in the contract. If the children are listed, then yes they are going to benefit from this account.
What happens to annunity payments after person dies?
After a person dies, the fate of annuity payments depends on the type of annuity and its terms. If the annuity has a death benefit provision, payments may continue to a designated beneficiary or be paid in a lump sum. In contrast, if it is a straight-life annuity, payments typically cease upon the annuitant's death. It's essential to review the specific terms of the annuity contract to understand the implications for beneficiaries.
What happens to a persons annuitiy if he dies and still have money in it But has kids and no will Can the childrens claim the rest of his retirement that he has paid in to it?
This is called intestacy. Each state or country has their laws as to how the estate is distributed. You can work with an attorney, open an estate and all of the assets are valued and distributed according to the laws. An annuity is a special device. It will depend on the type and the contract between the parties. In many cases, the annuity ends on the death of the recipient. In others, there may be a survivors clause that will allow them to leave a certain amount to their spouse or offspring. You will have to read the terms of the annuity carefully to find out how his works.
