[WSBAPT] Annuity?

[Lisa E Schuchman]

Thanks, Paul.  That seems like a much better idea. Their financial advisor suggested the annuity, but it isn’t really practical and doesn’t accomplish their goals.

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

I learn, I give. – Gloria Steinem

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P  Please consider the trees before printing this document

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Paul Grant
Sent: Saturday, March 17, 2018 3:15 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Annuity?

I would be very hesitant to make an investment demand of the remaining funds - I would prefer to simply express what the goal of the funds are for the final beneficiary:  ie: we desire for the successor Trustee to invest all remaining assets into an investment vehicle that will protect the principal, create a stable income source of not more than $1,500 per month for the beneficiary, and not give control to the beneficiary.... something that guides the trustee to know what the goal is versus making an investment decision.  It really sounds like they want a trust set up for the final beneficiary but are trying to use an annuity instead; why not just make the final beneficiary the new beneficiary of the children's trust under the same terms and conditions but not limited to an outright distribution age?

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Paul H. Grant - JD, LL.M

Planning with Purpose, Inc
Lynnwood, WA 98036
425-939-9948
www.planningwithpurposeinc.com<http://www.planningwithpurposeinc.com>

Estate Planning. Business Planning. Wealth Succession.

On Sat, Mar 17, 2018 at 2:23 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<tel:(206)%20960-4212>
www.lisaschuchman.com<http://www.lisaschuchman.com>

I learn, I give. – Gloria Steinem
NOTE: I do not use encrypted email.  Messages sent to or from my office via email are not secure and may not be protected by attorney-client privilege. This email address is not monitored at all times.  If your matter is urgent, please phone my office during regular business hours.

Any tax advice included in this document and its attachments was not intended or written to be used, and it cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code.

Please consider the trees before printing this document


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