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Annuities: Annuity Anxiety
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Today there is an exciting new way to pass tax-deferred annuities on to beneficiaries. It's a way that gives heirs more flexibility, more liquidity and more tax advantages upon inheriting your annuity. It's called the Legacy Annuity (or Stretch Annuity) and it is one of the most powerful annuity estate options in existence. However, most annuity beneficiaries won't have this opportunity. Will yours…?
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If you are thinking about a 1035 exchange, you should compare both annuities carefully. Unless you plan to hold the new annuity for a significant amount of time, you may be better off keeping the old annuity because the new annuity typically will impose a new surrender charge period. Also, if you decide to do a 1035 exchange, you should talk to your financial professional or tax adviser to make sure the exchange will be tax-free. If you surrender the old annuity for cash and then buy a new annuity, you will have to pay tax on the surrender.
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By providing the most efficient and reliable service to its clients, AnnuityLibrary.com is recognized as a leading authority in the field of annuities. Many respected financial institutions rely on AnnuityLibrary.com for current market conditions and expert advice regarding annuities. The experts at AnnuityLibrary.com are available to assist you in selecting the best annuity to meet your individual needs.
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Gift annuities are a simple and convenient way to make a gift. Under the terms of a gift annuity, you make a gift of cash or other appropriate assets in a way that allows you to retain payments for the remainder of your lifetime. You can ... provide for payments that continue for the life of one other person if desired, or direct that the payments be made to one or two others you name.
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One of the most attractive features of annuities is that they are allowed to grow tax deferred. Because you do not have to pay taxes on the growth of your annuity until withdrawn, annuities have become an attractive accumulation alternative.
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Annuity Anxiety