A person gets everything in will.Somebody else is beneficiary of annuity. Who gets?

Question

If somebody gets everything in a will does he also get everything,even money that somone else is named beneficiary in insurance policies or annuities? In other words, who wins, the person named in will or person named beneficiary?

Answer 1

When there is one or more named beneficiaries, it passes to the beneficiaries outside of the estate.  The will would only apply for the annuity if there are is no beneficiary or the estate is the beneficiary.

However, the annuity would be figured into the gross estate if the estate is large enough to require estate tax.

Answer 2

Anything that passes via contract, like life insurance (and sometimes annuities), is passed OUTSIDE the estate.  The will doesn't affect it.  

So the person who's the named beneficiary usually wins.  Exception:  in some states, a current spouse is automatically entitled to annuities and retirement funds, regardless of the beneficiary designation.

Answer 3

The named beneficiary get what is his..  Cash--insurance -- annunities   Per named WINS...