Question
i am in texas and my wife passed away 2 1/2 months ago. we did not hold any accounts together. we were married 9 1/2 years. she had a variable annuity with a payoff upon death. it was purchased through merrill lynch and is held through or with merrill lynch life insurance co.. her advisor is aware of her passing and i am pretty sure i'm the beneficiary. Why has it not payed off? noone will talk to me because i'm not on the account. Who is responsible for notifying the annuity holder of her passing? I've tried to tell them but they will not discuss the matter. p.s. these were purchased while we were living together. [EMAIL=joealb@hotmail.com]
Answer
The annuity contract is not among your wife's papers? Are you certain that you are the beneficiary?
Answer
Did your wife leave a last will and testament and is it going to be probated? If so, then the executor of her estate can also contact Merrill Lynch to get the information about who is named beneficiary, IF a beneficiary was even named. So sorry that you have to deal with this crap when that company should certainly be more sensitive and responsible to your needs as a surviving spouse.
DANDY DON IN OKLAHOMA (tiekh@yahoo.com)
Answer
tx Did your wife leave a last will and testament and is it going to be probated?
There was a will (believe it burned in fire or taken by family members from her side)and the attorney does not have copy.
Is it going to be probated? yes
i'm not sure if i'm the beneficiary and thats ok. I was told i was by her. i need to find out how to initiate the process so it will pay out...even if i.m not the beneficiary. I checked the accounts on-line today and the money is still there...and on her ML account it has DSCD next to her name.
how can i get a copy of the actual annuity contract?
Answer
You need to write a certified letter to the president of the company to get information, or wait for the executor of the estate to do it.