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03-17-2008, 05:28 PM
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annuity resolution
On the death of an annuity holder, they give you several options for dispersing the funds. What is the best way to do it to avoid large taxes if the annuity is over 100,000? Monthly payments for a set period of time?
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03-24-2009, 06:13 PM
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In the long run, the tax hit is the same no matter how you look at it. A big hit now vs a bunch of little hits along the way. Except for the fact that a lump sum like that may put you in a much higher bracket.
If you don't need the money now, you can always roll it into a different contract (tax free 1035 exchange). That all depends on your age and a few other specific details. It really just depends on what you have planned for the money.
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