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<p>I agree with Paul. The downside of an annuity is that the
principal is no longer available. Suppose the beneficiary had a
catastrophic health crisis and a pile of money locked up beyond
his reach? A trust gives more realistic flexibility. <br>
</p>
<br>
<div class="moz-cite-prefix">On 3/17/2018 3:15 PM, Paul Grant wrote:<br>
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<blockquote type="cite"
cite="mid:CAAVZ0MqRkbLm-a4vWpuExUu6zkzS+A+Cy8epZt2dWLJGoo0sQg@mail.gmail.com">
<div dir="ltr">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?</div>
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<div class="gmail_signature" data-smartmail="gmail_signature"><br>
Paul H. Grant - JD, LL.M<br>
<br>
Planning with Purpose, Inc<br>
Lynnwood, WA 98036<br>
425-939-9948<br>
<a href="http://www.planningwithpurposeinc.com"
target="_blank" moz-do-not-send="true">www.planningwithpurposeinc.com</a><br>
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Estate Planning. Business Planning. Wealth Succession.<br>
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<div class="gmail_quote">On Sat, Mar 17, 2018 at 2:23 PM, Lisa E
Schuchman <span dir="ltr"><<a
href="mailto:lisa@lisaschuchman.com" target="_blank"
moz-do-not-send="true">lisa@lisaschuchman.com</a>></span>
wrote:<br>
<blockquote class="gmail_quote" style="margin:0 0 0
.8ex;border-left:1px #ccc solid;padding-left:1ex">
<div link="blue" vlink="purple" lang="EN-US">
<div class="m_-5916751439037161475WordSection1">
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Garamond",serif">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?
</span></p>
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style="font-size:12.0pt;font-family:"Garamond",serif"> </span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Garamond",serif">Thanks,</span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Garamond",serif"> </span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Garamond",serif">Lisa
E. Schuchman</span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Garamond",serif"><a
href="tel:%28206%29%20960-4212"
value="+12069604212" target="_blank"
moz-do-not-send="true">206-960-4212</a></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Garamond",serif"><a
href="http://www.lisaschuchman.com"
target="_blank" moz-do-not-send="true">www.lisaschuchman.com</a></span></p>
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style="font-size:12.0pt;font-family:"Garamond",serif"> </span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Garamond",serif">I
learn, I give. – Gloria Steinem</span></p>
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style="font-size:12.0pt;font-family:"Garamond",serif"></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Garamond",serif">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.
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<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Garamond",serif">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.</span></p>
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<pre class="moz-signature" cols="72">--
Felicia Value
Attorney at Law
PO Box 578/116 N. Third
La Conner, WA 98257
(360) 466-2088
<a class="moz-txt-link-abbreviated" href="mailto:Felicia@skagitprobate.com">Felicia@skagitprobate.com</a></pre>
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