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| Clients brother is mentally disabled. Several annuities are in brothers name and SS#, as brother ages, (50-55) family wants to set up a special needs trust, with a family member as trustee. Can the annuities be rolled over to a trust without triggering the tax? Or is there another solution?
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Power Member
Group: Forum Members
Last Login: 3/12/2011 12:58:57 PM
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Most annuity companies will not accept a trust as a beneficiary. The only tax-free rollover of annuities tha I'm aware of is using Section 1035 which just allows the switch from one annuity product to another.
Mary Kay Foss
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