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#annuity Tag

11 Aug

Posted at 08:16h in Alzheimer’s, Beneficiary, End of Life Care Planning, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Texas Bar Today Top 10 Blog Posts

A recent decision of a San Antonio appellate court determined that faulty drafting of an annuity contract by the insurance company who issued the annuity resulted in a beneficiary being paid far more than the contracted terms. The annuity contract provided for payments during the joint...

31 Jul

Posted at 20:47h in Asset Protection, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Public Benefits Protection, Retirement, Social Security, Success Story of the Month, Taxes, Veterans

Several years ago, a local financial advisor recommended that his client (a married man who is retired) invest his entire traditional IRA worth $300,000 in an annuity (within such IRA). The IRA is the largest asset of the client (he and his wife have $80,000...

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