Chicago, IL asked in Estate Planning for Illinois

Q: What happens when a beneficiary on an annuity is deceased? How is his portion distributed If there is a trust?

The annuity is not in the trust but list beneficiaries. The trust designates the deceased portion to go to his children. How can we assure that happens?

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1 Lawyer Answer
Charles E. Hutchinson
Charles E. Hutchinson
  • Estate Planning Lawyer
  • Wilmette, IL
  • Licensed in Illinois

A: Without seeing the annuity itself it is difficult to answer. However, if at the time the payout is made, the payout is made only to the living beneficiaries, there are several options they can take to ensure that the descendants of the deceased beneficiary receive his equal share under the testator's directive as outlined in his trust.

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