[WSBAPT] Annuity?

[Marvin Benson]

Not to disparage the advantages of a trust, but the Annuity could have
lower costs unless a family member is trustee, and finding a willing and
able family member to serve as trustee can be difficult.

Marvin Benson

On Mon, Mar 19, 2018 at 11:07 AM, Lisa E Schuchman <lisa at lisaschuchman.com>
wrote:

> 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 <(206)%20960-4212>
> www.lisaschuchman.com
>
> I learn, I give. – Gloria Steinem
>
>
>
> NOTE: I do not use encrypted email.  Messages sent to or from my office
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>
> 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.
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>
> *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 <(425)%20939-9948>
> 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>
> 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 <(206)%20960-4212>
>
> 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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