Do Variable Annuities Avoid Probate? 
In Canada , Variable Annuities are issued by insurance companies and are also known as segregated funds -LRB- seg funds -RRB- or Guaranteed Investment Funds -LRB- GIFs -RRB- . Since they are a life insurance product if there is a named beneficiary the proceeds will bypass the estate and avoid probate . If the estate is named as beneficiary the proceeds will pass through and be subject to probate -LRB- if applicable -RRB- . If you have any further questions , please do not hesitate to contact me . More information available at www.protectandgrow.ca You are encouraged to consult with your professional advisers for advice concerning specific matters before making a decision . 