The decedent had purchased an annuity, and had named “Mildred Williams – Friend,” as the beneficiary, but failed to provide a Social Security number or other identifying information for the beneficiary. The decedent also failed to disclose the annuity to … Continue reading
Some things to consider doing before ending an estate administration: Check with the Life Policy Locator Service provided by the National Association of Insurance Commissioners to see if there are any policies insuring the decedent that were overlooked or not known...
A claim to unclaimed property held by the Pennsylvania Treasury was properly denied when the property was a joint account in the names of the claimant’s mother and half-sister, the mother predeceased the half-sister so that the account became the … Continue reading
Under Act 95 of 2016 (H.B. 1605), which became effective last Saturday, inactive individual retirement accounts (IRAs) can escheat to the Pennsylvania Treasury even though the account owner is under age 70-1/2 and not required to take distributions. Under the … Continue reading