Is An Annuity A Good Idea?

Status
Not open for further replies.

mustang54

New Member
Mother sold her house and we need to know in order to keep it fair so that when she dies - the money will be split between her children. We were advised to put the funds into a tax def. annuity and her naming the beneficiaries. Is that the best way to do it? Will a nursing home be able to make claim to these funds if she doesn't make the 5 year look back?

What does it cost to set up an annuity? Or is a trust a better solution?

There are so many opinions, but so confusing at the same time.
 
Your mom and your family need to sit down with a financial planner and with a real estate attorney to have a face to face conversation and make decisions based on your mother's interests on what and how she wants the money invested and divided when she is no longer around. Hope this helps!
 
Status
Not open for further replies.
Back
Top