Do Annuities Avoid Probate? 
In Canada , annuities issued by life insurance companies can bypass probate if the beneficiary of the policy is named and it is not the estate . This would include : 1 . Guaranteed Investment Annuities -LRB- GIAs -RRB- that are similar to Guaranteed Investment Certificates GICs -RRB- 2 . Guaranteed Investment Funds -LRB- GIFs -RRB- also referred to as segregated funds that are similar to mutual funds 3 . The guaranteed portion of a term certain or a life payout annuity . Avoiding probate and any other fees is one benefit of bypassing the estate another is privacy . You can find additional information at www.jpw.ca , if you have any more questions please do not hesitate to ask . 