Annuities for old clients

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Jul 8, 2011 9:57 am

I got a 93 year old client that is the beneficiary on his wife's annuity with Jackson National, she died, they will let him continue it until age 95, then they force annuitization.

approx gain in the $300k contract is 50-100k.

Is there any good strategies for a 93 year old that wont cause a big tax hit...The annuities available for a 93 yr old are slim at best.

The man's bene is a church, no close relatives.

I was also thinking of a SPIA, but then we would need somewhere to stash the money.

Thanks,

Brian

Jul 8, 2011 3:43 pm

I'm interested in the ideas you get as well.

Jul 16, 2011 11:15 am

if non profit is Benf. set up CRT...it will flow income to him, tax break, and if u set up a DAV you can provide ongoing income to non profit..call american college