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  1. #1
    Join Date
    Jun 2016
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    Default Who Pays Out the Proceedings After Probate

    My question involves estate proceedings in the state of: Florida

    Let's say you have a summary administration and the only main asset was an annuity.
    After probate, the entire amount of the annuity was claimed and paid out to only one beneficiary. (Also, that beneficiary gets the 1099 for the entire amount in their name at the end of the year.) Who is to say this heir doesn't just take the money and run, since they have the entire amount? Since there is no personal representative, who makes sure the other beneficiaries get their part?
    Do the other beneficiaries have to sue the one who claimed the money for their part?

  2. #2
    Join Date
    Oct 2006
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    16,474

    Default Re: Who Pays Out the Proceedings After Probate

    Quote Quoting Ouch1010
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    My question involves estate proceedings in the state of: Florida

    Let's say you have a summary administration and the only main asset was an annuity.
    After probate, the entire amount of the annuity was claimed and paid out to only one beneficiary. (Also, that beneficiary gets the 1099 for the entire amount in their name at the end of the year.) Who is to say this heir doesn't just take the money and run, since they have the entire amount? Since there is no personal representative, who makes sure the other beneficiaries get their part?
    Do the other beneficiaries have to sue the one who claimed the money for their part?
    If an annuity has a beneficiary listed, then that annuity belongs to the beneficiary listed and would not be part of any probate estate. It would pass to the beneficiary outside of probate. Therefore, there would be no other beneficiaries.

  3. #3
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    Mar 2013
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    Default Re: Who Pays Out the Proceedings After Probate

    Quote Quoting Ouch1010
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    Let's say you have a summary administration and the only main asset was an annuity.
    After probate, the entire amount of the annuity was claimed and paid out to only one beneficiary. (Also, that beneficiary gets the 1099 for the entire amount in their name at the end of the year.)
    The annuity company wouldn't pay just one beneficiary unless ONLY ONE BENEFICIARY was listed on the annuity.

    Quote Quoting Ouch1010
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    Who is to say this heir doesn't just take the money and run, since they have the entire amount? Since there is no personal representative, who makes sure the other beneficiaries get their part?
    Do the other beneficiaries have to sue the one who claimed the money for their part?
    The other beneficiaries TO THE ESTATE have no part in annuity benefits if they weren't listed as beneficiaries on the annuity policy and apparently they weren't if it got paid to only one beneficiary.

    The annuity bypasses the estate and bypasses probate and the other beneficiaries TO THE ESTATE have no claim to the annuity money.

    However, the beneficiary of the annuity still gets a share of the estate either by the will or by intestacy. The annuity money doesn't change his other inheritance.

  4. #4
    Join Date
    Jun 2016
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    5

    Default Re: Who Pays Out the Proceedings After Probate

    Sorry I wasn't clear. The annuity was left to the estate. The estate has more than one beneficiary. The company that held the annuity paid the entire amount to one beneficiary and not what the probate court orders stated. (Even though they received the court order, in order to pay out anyone.) The company that held the annuity stated they won't take responsibility and since they only send out one 1099, (To who ever claims the entire amount,) they won't divide the money up. So, only one beneficiary got paid and that was the entire amount of the annuity.
    How does one go about getting their share of the estate when that one person perhaps spent all the money, or refuses to give up any cash?

  5. #5
    Join Date
    Jul 2010
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    Default Re: Who Pays Out the Proceedings After Probate

    Why did the company not follow the court's order with regards to the distribution of the annuity?

  6. #6
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    Jun 2016
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    Default Re: Who Pays Out the Proceedings After Probate

    That is my entire question. They absolutely paid the entire amount to one beneficiary.
    How do the other beneficiaries get their money? Who is held responsible if the heir who got all the money won't pay them out?

  7. #7
    Join Date
    Nov 2013
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    7,056

    Default Re: Who Pays Out the Proceedings After Probate

    First you say that there was no personal representative for the estate and then you say there is a probate court order. That means that someone was appointed the representative to act on behalf of the estate. Which is it?

    If there were probate court proceedings, you go back to probate court to get it worked out.

  8. #8
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    Mar 2013
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    Default Re: Who Pays Out the Proceedings After Probate

    Quote Quoting Ouch1010
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    That is my entire question. They absolutely paid the entire amount to one beneficiary.
    How do the other beneficiaries get their money?
    That's easy. They petition the court to intervene.

    Quote Quoting Ouch1010
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    Who is held responsible if the heir who got all the money won't pay them out?
    That's easy, too. The heir that got the money if that heir got it wrongly.

    What isn't going to be easy is you demonstrating how little you know about all this.

    Here's how it should have worked.

    IF (big if) the annuity was "left to the estate" the annuity policy's beneficiary page would list, as beneficiary, "The Estate of __________."

    Did it?

    If it did then the executor/personal representative would have filed the claim and the annuity company would have issued the check to "The Estate of ___________."

    Did it?

    You mention "probate court orders." What "probate court orders"? Be specific. To whom or what was the order addressed? What did it say? Quote the order word for word.

    Why was it necessary for the court to order the annuity company to do anything if the annuity was "left to the estate"?

    Is the beneficiary who got the money the executor/representative of the estate?

    If not, then why didn't the executor/representative of the estate handle making the claim for the annuity proceeds?

    What is your position in all this? Are you a beneficiary of the estate? Are you the executor/representative of the estate?

    Try answering all of the above question so we can find out what you really know (or don't know) about what happened.

  9. #9
    Join Date
    Jun 2016
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    5

    Default Re: Who Pays Out the Proceedings After Probate

    First of all, this was a Summary Administration-small estate under 75,000.00.
    When you have a Summary Administration and NOT FULL administration, the courts do NOT assign a personal representative.
    The Order of Summary Administration -which the judge signs - just outlines what assets the estate has and who gets what out of those assets. Also determines homestead if applicable.
    Maybe saying it was the, ‘Probate court order,’ wasn’t the right phrase. It’s the official paper work needed that ends probate. It’s called, ‘Order of Summary Administration.’
    The annuity was left to the estate as the beneficiary.
    The company holding the annuity sent the check in the name of the person who filled out the claim paper work and sent in the, ‘Order of Summary Administration.’ They did not send the annuity check to. ‘The estate of.’ They sent the entire amount of the annuity, in the name of the person who claimed it. The company also only sends out one 1099 to that person at the end of the year, in their name only.
    What my question is; How do the other beneficiaries, that are clearly listed how much they get out of the annuity, actually get their money out of the heir that got the entire amount?

  10. #10
    Join Date
    Jul 2010
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    8,006

    Default Re: Who Pays Out the Proceedings After Probate

    Quote Quoting Ouch1010
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    What my question is; How do the other beneficiaries, that are clearly listed how much they get out of the annuity, actually get their money out of the heir that got the entire amount?
    They file suit against him or her.

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