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Old 11-03-2008, 02:21 PM   #21
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Originally Posted by FinanceDude View Post
So, it was set up in a trust, it seems. Your sister is the trustee and executor, and so she controls the disbursements to you. Without knowing the structure and language of the trust, it's hard to advise you on what to do.

Your sister should ask the insurance company if that can be changed in how its set up. If it is irrevocable, then your sister could always calculate how much tax will be owed this year upon lump sum withdrawal, and keep the tax consequence, and give each of you the net amount. Hopefully all of you get along well enough that it would not be a problem.........

I could give him the answers he needs. Too bad he has me on ignore.

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Old 11-03-2008, 03:22 PM   #22
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One of the best things about having two qualified DB pensions is that I do not ever have to address the annuity question at all. Duel income streams for life is a benefit that I never fully appreciated until I retired. All this and SS too.

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