by Guest » Wed Jan 16, 2013 08:00 pm
so i recieve annuity payments along with my sister. we split our moms annuity 50 50 as beneficiaries upon her death.domiciled in Louisiana she had 2 younger kids who were not added as beneficiary one of which isnt even a US CITIZEN. they now are suing annuity company to try and recieved their forced heir portion of the annuity. Now it is my and the administrators understanding that the annuity is not apart of estate and therefore is not subject to louisiana's "Forced Heir' clause.
Now the payments have stopped and subsequently caused us (sister and myself) to miss payment and be late on bills we only acquired because due to the income from annuity. What to do?
Now the payments have stopped and subsequently caused us (sister and myself) to miss payment and be late on bills we only acquired because due to the income from annuity. What to do?
Posted: Thu Jan 17, 2013 02:24 pm Post Subject:
she had 2 younger kids who were not added as beneficiary one of which isnt even a US CITIZEN
Don't understand that.
Now it is my and the administrators understanding that the annuity is not apart of estate
You let the administrator handle this aspect of the matter. That's what he/she gets paid to do. Since there were named beneficiaries of the annuity, the annuity is a non-probate asset.
Now the payments have stopped and subsequently caused us (sister and myself) to miss payment and be late on bills we only acquired because due to the income from annuity. What to do?
Gee, that's too bad. Get all this "new money" and go on living beyond your means. No one to blame for that but yourselves. Looks like you could lose that stuff (like a new car) to being repossessed for nonpayment.
Posted: Fri Jan 18, 2013 11:13 am Post Subject:
The annuity is a non-probate asset.
Only the named beneficiaries are entitled to the benefits.
And living beyind your own financial capabilities is a blunder. That's the reason why it's said - 'Don't count your chickens before they're hatched'.
Posted: Sat Jan 26, 2013 07:23 am Post Subject:
ok I had been recieving the annuity for over a year... contracted to me and sister." the eggs did hatch, lol". didnt know u could contest me as the written legal beneficiary.so i was under the assumption that I owned it so its mine ...
Posted: Sat Jan 26, 2013 06:09 pm Post Subject:
du guys realize i was and still am the primary owner of this annuity.... The estranged spouse effectively stopped my annuity payment " saying they are entitled to marital portion"??? i am the named beneficiary and now payments stopped due to this marital protion BS.And furthermore, an annuity contract is legally binding right? so banks use it as Guaranteed payment almost better than job cuz the money is already mine. just need to live to see the payment days. I didnt ask for a finacial analysis of my decisions, rather LEGAL advice on HOW CAN SOMEONE CONTEST ME WHEN I AM THE RIGHTFUL LEGAL WRITTEN BENEFICIARY?
Posted: Sun Jan 27, 2013 04:27 am Post Subject:
i was and still am the primary owner of this annuity.
andI AM THE RIGHTFUL LEGAL WRITTEN BENEFICIARY?
These two things are NOT the same. You can be one or the other or both, but you are probably NOT the owner of the annuity. That, most likely, was your mother before she died.
so banks use it as Guaranteed payment almost better than job cuz the money is already mine.
Well, in the bigger scheme of things, the money is NOT YOURS until it is actually in your hands. If the bank wants to grant you credit based on money you do not have, that's their prerogative, but that is not a guarantee that the annuity money is yours.
I didnt ask for a finacial analysis of my decisions, rather LEGAL advice on HOW CAN SOMEONE CONTEST ME
Well, that's one more mistake on your part. This is not a legal advice website. No one here can give you "legal advice". Some of us, as licensed agents, have some added knowledge or experience that allows us to offer extended commentary on particular situations based on our broad understanding of the law, but it is still not "legal advice". Only a licensed and admitted attorney can offer that to you.
Which is why I said, initially, your mother's estate's Administrator (could be an attorney) is the person who needs to handle this situation by consulting legal counsel. So do yourself a favor and address your concerns to (1) the Administrator or (2) the attorney the Administrator has retained to represent the estate.
As for "How can someone contest me . . ." -- friend, this is America, stupid people do stupid things all the time, like hiring stupid lawyers who promise their clients the moon and the stars and deliver empty dreams.
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