txtig
Full time employment: Posting here.
Has anyone used an annuity in connection with estate planning? I have one adult son (age 30) that I am fairly certain would quickly blow through any inheritance. I’m thinking of splitting his portion of our estate into two buckets, an immediate distribution that he could use to help buy a house or other major purchases (or pay off debt); with the balance of his portion (about 2/3 of his overall portion) funding an annuity to give him lifetime income. Is it possible to buy an annuity for someone in their 30’s? Pro’s and con’s? Any tax implications?