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Online Asset Protection Quiz.

If IRAs are not as fully protected in my state as annuities are, should my IRA buy an annuity?

Many states fully exempt annuities against lawsuits but don’t similarly protect IRAs. If that’s your state law, then you might consider investing your IRA in annuities. You wouldn't ordinarily buy annuities for your IRA because you only duplicate the tax deferral advantage. However, buying a self-protected annuity for an IRA can make sense when protection is your primary goal. This is one exception to the general rule not to invest an IRA in a tax deferred investment. But if you do foresee a lawsuit; it’s an option. Similarly, you can annuitize your retirement plan which may be advantageous if your state better protects annuities. But is this a sound investment decision? That’s why the reader must discuss this with their financial and asset protection advisors.

Categories: Asset Protection
The Presser Law Firm, P.A. - Asset Protection Attorney
Located at 6199 N. Federal Highway Boca Raton, FL 33487. View Map
Phone: (561) 953-1050