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Annuity

Location
Sheffield
From
England
Was looking at probate for elderly man, retired draper, died in his 80s and it say the money is going to an accountant. Don't think he was a relative and besides the man had a wife and two spinster daughters who were apparently left with nothing. Could it be he was living off an annuity which finished on his death?
 
It depends on the terms of your annuity contract. Payments may stop when you die, but if the contract includes a death-benefit provision, you can assign an annuity payout to a beneficiary who can receive the balance left in the annuity or a guaranteed minimum amount.

Would the accountant issue the annuity payment to the widow and the daughters, with a fee for this service.
 
I don't know. They seemed to manage financially after his death but the son/brother died 3 months later and left them some money too.
 
Are you just looking at the probate abstract? If so, what you are probably reading are details of the estate’s executor, who was an accountant. It doesn’t mean the accountant got the money (though he might have done). The abstract just indicates he was appointed executor, plus the value of the estate.

You would need to order a copy of the will itself to see where the money went. (Or was intended to go).
 
Just usually it says where the money is going to in other extracts I have read, eg., the Son left his fortune to his mother and 2 sisters.
 
Not sure precisely what your source is. UK probate abstracts don't normally spell out the estates disposal. They normally detail the deceased's address, date of death and occupation, together with information that tells you whether there was a valid will or not. Then you have the executor(s) or administrator(s) names and the stated value. As in this example:

"Probate of the Will of Agnes M'Dowell late of Ballyfotherly County Down Spinster who died 28 March 1904 granted at Belfast to James M'Dowell Traveller and William Matier Farmer. Effects £1,084 0s. 2d".

In the above example James M'Dowell and William Matier were the executors, not the beneficiaries (though they may also have received something). You need the will to know what bequests the deceased had made.

In your case, I'd suggest you obtain a copy of the actual will as that should tell you specifically whether provision was made for the wife and daughters. Assuming it's an English will, they are not expensive to obtain.
 
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