689. Bequest of an annuity followed by a power to purchase an annuity.

689.     Bequest of an annuity followed by a power to purchase an annuity.

If a simple bequest of an annuity1 is followed by a power to the trustees to purchase an annuity, then when the trustees have finally resolved to exercise the power and have provided money for such purpose, the annuitant may have the value of the annuity paid over to him2. If, however, the annuitant dies before the money has been provided, his personal representatives do not have this right3.