Annuity Creditor Protection

[Charpress]

Is anyone aware of any studies done to show which states have the strongest protection for annuities?

Almost all literature for annuities have language along the lines of "Provides creditor protection in most states." Are there any states that do not put annuities beyond the reach of creditors?

My own state even allows a person to transfer money to an annuity once a creditor action is started as long as the creditor does not get a judgment and writ of seizure within 12 months of the transfer. This is a huge advantage since it normally takes more than 12 months to get through the court process.

I was wondering about other states. I have several books on annuities and none of them have any state comparisons on how annuities are treated.

 

[Larry Tew]

Check out State Exemption Chart on Creditor-Debtor Issues. It dates back to 2007, but it's the best I've seen.

 

[0b1kanobee]

interesting question. I'm sure there are some asset protection strategies that one might want to couple with it like trusts and other things but I haven't gone that far in research yet.

Had a fella call me the other day with a course I could take for a few hundred bucks which supposedly had all kinds of information on the subject.

As to what states offer the best with just annuities alone, it may be a non issue unless certain other factors are in play (trusts, ect.) and then again it may not.

I'll have to try and remember to ask one of my more informed FMO's about it. The head guy is a wealth of information on these kinds of subjects.

 

[Charpress]

Yes, that chart seems to be pretty good. It is 100% accurate in my state. There are a lot of fine-tuning issues that can be done here, but obviously any chart that summarizes every state can't be expected to add page-long footnotes.

Thanks.

 

[Charpress]

What the hell?

Why don't you just stick that stupid, inaccurate bit on annuities that I've seen in four different posts of yours now into a signature line for yourself so that it shows up in every post you do?

Save you some cut and pasting.

 

[0b1kanobee]

I'm all about free speech but that kind of crap needs to be deleted and if he keeps on doing it then he needs to be blocked from this site.
You want to post an article about it or a thread and debate it, fine. But this is just going around spamming and trashing leaving your garbage trail and it does not do any good for this forum.

 

[Larry Tew]

I reported it and asked that he be banned. Useless.

 

[Norwayguy]

you guys must be speaking of that crap bhomid7 or whatever his name was posting....Does he ever post anything of value....Yes some people have a problem with annuities...having met some crap agents not knowing what they are doing selling annuities other than trying to collect a big paycheck, these articles will persist but do we need them on a forum for agents?

 

[bluemarlin08]

I was under the impression that annuities can be creditor proof if they were annuitized, as in the OJ case.

 

[0b1kanobee]

Here is another chart (scroll to bottom) with a lot of information to read before you get there (the chart).

Creditor Protection for Life Insurance and Annuities