Annuities

Are Annuities Protected From Creditors In Florida?

Among asset-protection products, annuities are the most widely used. Annuities and annuity proceeds are shielded from creditors under Florida Statute 222.14. Generally speaking, an annuity is a contract that stipulates that a beneficiary will receive payments over time in the form of a set amount of money. Annuity contracts come in a variety of shapes

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Are Annuities Protected From Creditors In New York?

On October 22, 2002, the New York State Insurance Department’s Office of General Counsel issued the following informal opinion. Facts: There were no specifics given. This particular annuity was labeled as a “non-qualified commercial individual annuity” by the inquirer, who expressed concern about the protection of creditors in the event of a divorce or bankruptcy.

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