Fiduciary Counselors has served as the independent fiduciary for the purchase of
annuity contracts totaling $9.
In this area, both parties are active in the market for Bulk
Annuity contracts and its sub-segments for Buy-in and Buy-out transactions in the United Kingdom.
Trustee could purchase a series of $78,000 deferred
annuity contracts each and every year the gifts are made to the trust.
Specific
annuity contracts also are built to accommodate a stretch when the contract is inherited as a non-qualified asset, a feature that applies mainly to non-spousal beneficiaries.
The second part of a recent two-part Florida Bar Journal article titled "Unraveling the Mysteries of the Florida Exemptions for Life Insurance and
Annuity Contracts, Part Two" discusses the creditor protection elements of
annuity contracts.
3 billion of
annuity contracts for pension plans including those of Verizon, Enron, and Visteon.
The PPA modified the rules that govern tax-free exchanges of life insurance and
annuity contracts into updated contracts that include the QLTC rider or into traditional stand-alone LTCI.
So-called stretch rules allow heirs-both spousal and non-spousal-who inherit assets (including
annuity contracts that haven't been annuitized) inside a qualified retirement plan to stretch distributions over their lifetimes, meaning they can dodge the heavy tax burden that accompanies a one-time, lumpsum distribution of a death benefit.
This is the second installment of a two-part article that provides a detailed analysis of the creditor exemptions available under Florida law for life insurance policies and
annuity contracts.
Most variable
annuity contracts offer portfolio reallocation at defined intervals.
Among the products exempted are variable and credit life insurance and individual and group
annuity contracts.
In Internal Revenue Bulletin 2004-26 the IRS issued final regulations (Treasury decision 9130, Required Distributions From Retirement Plans) concerning required minimum distributions under IRC section 410(a)(9) for defined benefit plans and
annuity contracts providing benefits under qualified plans, individual retirement plans and section 403(b) contracts (www.
