Sunday, February 06, 2011
Annuity scams are becoming more prevalent today and you need to be careful.
Many annuity salespeople are victimizing their prospects and even clients by selling them annuities that may be unsuitable. The tough economy is not doing any justice to these scams neither. Many people are falling victim to annuity sales reps trying to make a quick dollar.
It is very important to be well informed of what your agent is trying to do for you. Ignorance is certainly not bliss when it comes to this area. Being scared into investing into an annuity is not a way for you to make a good decision. Furthermore, it is important you are well educated when trying to make a good decision and not be the victim of an annuity scam.
For more information on how to avoid this and make the right choices when it comes to your annuities, please visit us at http://www.AnnuityMD.com
Wednesday, February 02, 2011
Will I Be Taxed On My Annuities When I Die?
This question is not uncommon. First and foremost, you must understand that there are several taxes that must be taken into consideration. Your annuity value will be included in your estate value at the time of death. So in the case of estate taxes, if you are over the exclusion amount, they can create a tax burden.
More importantly however, is what happens to the inheritor of your annuities. Your heirs are taxed on the gains in your annuity value. Here is a great explanation of this from about.com.