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Can annuity beneficiaries be contested

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The document is a form for retirees of the Texas County & District Retirement System (TCDRS) to designate or change their beneficiaries after retirement. It outlines the purpose of the form, steps for completion, spousal consent requirements, and rules for determining beneficiaries. The form allows retirees to specify primary and alternate beneficiaries, including provisions for minors and trusts. It also includes information on the implications of divorce on beneficiary designations.

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2018	4.4 Satisfied (26 Votes)
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What is the beneficiary designation of an annuity?

Beneficiaries can be people or organizations. Naming a beneficiary ensures that the designated people and organizations receive the specified amount or percentage of the annuity contract. It eliminates confusion about where the contracts value should go if you pass away.

What is the difference between an annuitant and a beneficiary?

Usually, the annuitant and the owner are the same person, but it is not required. The beneficiary receives the death benefit upon the death of the annuitant either in one payment or multiple payments over time.

Who is considered the annuitant?

An annuitant is someone who is entitled to collect the regular payments of a pension or an annuity investment. The annuitant may be the contract holder or another person, such as a surviving spouse. Annuities are generally seen as retirement income supplements.

Who do I put for beneficiary designation?

Can anyone be named as a beneficiary? Your beneficiary can be a person, a charity, a trust, or your estate. Almost any person can be named as a beneficiary, although your state of residence or the provider of your benefits may restrict who you can name as a beneficiary.

Does a beneficiary on an annuity supersede a will?

Part of the advantage of designating a beneficiary is that it generally bypasses probate and overrides the contents of a will. Whereas a will must be administered in court, designated beneficiaries may only need to show their ID and a certified copy of the decedents death certificate to receive their benefits.