[WSBAPT] Annuity?

[Philip N. Jones]

Every annuity needs to have an owner, who has the ability to change the beneficiary, cash in the annuity, etc.  The adult relative sounds like a poor choice to be the owner.  Who will the owner be?  Do you have any good candidates?
Phil Jones
Portland OR

Philip N. Jones
Duffy Kekel LLP
Portland, OR
pjones at duffykekel.com<mailto:pjones at duffykekel.com>
(503) 226-1371

On Mar 17, 2018, at 2:26 PM, Lisa E Schuchman <lisa at lisaschuchman.com<mailto:lisa at lisaschuchman.com>> wrote:

I am working with clients on a will and testamentary trust. They are leaving their estates to their minor children in the trust (once they’re both dead).  If all of their children don’t survive till the trust fully pays out, they want the trustee to use trust assets to buy an annuity for the benefit of an adult relative who doesn’t manage money well, with the rest of the assets to go elsewhere.  I’m not an annuity expert, to put it mildly, and I don’t know if this is realistic or a good idea.  Does anyone have advice about this?

Thanks,

Lisa E. Schuchman
206-960-4212
www.lisaschuchman.com<http://www.lisaschuchman.com>

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