Annuities

It’s a long-term financial arrangement in which you pay a lump sum or a series of payments to an insurance company to help you save for retirement and other important milestones. In return, the insurance company will begin making regular payments to you as soon as possible or at a later date. In addition to […]

Immediate annuities may be an excellent option for those who are about to enter retirement. It’s one of the few ways to turn your savings into a source of income that you won’t run out of. Having no other lifetime income guarantees like a pension, an immediate annuity can be extremely helpful. Given that more

Many investors don’t give much thought to how they can keep their money safe. In spite of this, asset protection against present and future creditors is a big concern for many people in high-risk occupations. Creditor protection is possible with annuities, but you must check your state’s laws to see if and how much your

Those who live in California are protected by the state’s asset protection legislation. Unmatured life insurance plans, such as annuities, are exempt from federal taxes if the policyholder is a person or married couple. A money judgment can be enforced in excess of certain limits. “‘ To the degree necessary to support the debtor and

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

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.

For annuities and life insurance, state law dictates the level of protection they receive. Some life insurance policies and annuity contracts are shielded from creditors’ attachment, garnishment, or legal procedure. Others, on the other hand, defend solely the interests of the beneficiary to the amount necessary for support. In addition, there are certain governments that

You may not obtain your money’s value from annuities if you die too early in your retirement. Annuities are generally more expensive than mutual funds and other investments because of their hefty costs. However, you may have to spend more or accept a lesser monthly income to personalize an annuity to your specific needs. Can

An annuity is an asset that may be protected by your state’s government, which is a benefit. Depending on the state, annuities may be shielded against creditors’ judgments in a lawsuit. It’s a non-qualified retirement account for the annuity’s proceeds. For an account to be considered non-qualified by the IRS, it must meet a series

You may not obtain your money’s value from annuities if you die too early in your retirement. Annuities are generally more expensive than mutual funds and other investments because of their hefty costs. It’s normally more expensive or less lucrative to design an annuity based on your specific demands, but you can do so for