Re: AVOID ESTATE TAXES

From: Jacqueline.D.Richardson@Hitchcock.ORG (Jacqueline D. Richardson)
Subject: Re: AVOID ESTATE TAXES
Date: 27 Dec 1999 20:47:32 EST

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- --- Jeff wrote:
So, to summarize, this technique works best when:

1. You have an asset you want to transfer to your heirs.

2. You are willing to give up the asset in return for an life-time
annuity income stream.

3. The asset is capable of producing enough income to fulfill the
annuity income stream obligation.  This requirement is usually =
easier to
fulfill than you may think.

4. As a bonus, the private annuity can be used to defer capital =
gains
taxes.  I'll talk about this in reply to your posting about capital
gains.
- --- end of quote ---

If I am reading this correctly you are transferring ownership to =
your heirs (in my case, my sons).  What happens if they should get =
divorced?  Does/could this asset, say an apartment building, get =
split up/lost in the divorce settlement?  If so, what happens to my =
income I was counting on for my golden years?
Thanks
Jackie in VT
Jacqueline.D.Richardson@Hitchcock.org

- -

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