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Eric: ***, do marketfree annuity have really any kind of estate advantages?
***: Eric, there's several estate advantages; for one thing,
the heirs will receive any
account value, principal bonuses; anything from marketfree annuities
typically penalty-free, surrender free and it goes right around
probate. Eric: So, you just fill out the beneficiary form and
it goes directly to the person that you want to go to. ***: If the beneficiary form is filled out
correctly,
it so important. Eric: Yes, we kid about that but you know you need to
update those things. ***: Yes, you do or.. Eric: For certain elements... have a child
lost a wife... you'll never know. ***: Right. You don't want it to go to the wrong
person or
not arrived to the right person. Eric: So avoiding probate court,
we should get off the gadgets here.
***: Yes. And the nice thing about this is you don't even have to necessarily
have the will or the living trust -
although those are important good parts estate planning -
a properly done annuity will get that money
around the probate court right to the heirs. Eric: Right. It goes right
where it needs to.
And the nice thing is you can take the tax advantage aspect of annuities
and
pass those on heirs as well. ***: Well, you can exactly.
And like using annuity,
a marketfree annuity for the IRA, it will allow you to stretch
this benefits; the heirs can stretch those benefits out over
many years even using the annuity for their own retirement
And then take it one step further; if it's not a traditional IRA
go to the roth IRA. Eric: Ohh, you want tax free now.
***: Completely tax-free. Eric: So, you want it really supersized and make it tax-free
for the next generation even.
***: Yes, and it can also be used with the roth for
income advantages - if that's a concern and you've got some money in roths -
you can actually have a tax free income for the rest of your life. So that's
another thing that can be considered.
Eric: Sounds like a heck of estate advantages.