If Stepmom has POA can she cash in Grandma's annuity to pay health care before using the bank account that she is POD on?

Thanks for info Rebecca

As legal counsel for a life and annuity insurer, our company will not speak to a beneficiary about the the contract owned by another person. Their interest does not vest until death, and we are not permitted to release any information about the account to a beneficiary unless said beneficiary has valid authority (written permission, subpoena, POA, conservator appointment).

As to surrendering the annuity - if your stepmother has an active POA agent position, and the POA document itself permits such a transaction, as an insurer, we will follow the instructions (again, as long as the POA is validly executed and provides such authority and the submitter is the valid agent under a POA).

Unless your Gmas POAs had step Mom as secondary, they don't automatically transfer over to step Mom. Your Gma would need to assign step Mom if not secondary. The annuity depends on how it's written. Some annuities are set up only so much can be taken out a month. So you will need to find that out. I think the company will talk to you since ur beneficiary. Ask how Medicaid will effect the annity.