Estate Planning & Probate Lawyer, Fort Lauderdale, FL

Get A Fort Lauderdale Annuities Attorney

Estate plans with annuities can safeguard your present and future

Life is unpredictable, with tragedy striking when people least expect it. You deserve peace of mind about your future. In Florida, estate plans that include strategic use of annuities can ensure that you’re protecting what matters most to you now and in the future.

By structuring annuities to continue payments to beneficiaries after the annuitant's death, individuals can create lasting legacies. Potential benefits of including annuities in your estate plan include:

  • Reduced Tax Risk
  • Steady Income
  • Long-term Care and Protection for Loved Ones

The Levy Firm PLLC gets annuities right

When structured correctly, annuities can be powerful estate planning tools that protect assets and regularly distribute income. The Levy Firm PLLC in Fort Lauderdale takes a personalized approach to estate planning. We spend time getting to know you and your goals, and that effort puts us in the best position to recommend whether an annuity or other estate planning tool can help you. If you’re ready to learn more about how you can provide for your family no matter what the future brings, contact us for a confidential free consultation. South Florida estate planning and probate lawyer Geoff Levy is ready to answer your questions and help you decide the next steps.

What is an annuity?

An annuity is a financial product designed to provide regular payments over a specified period, typically during retirement. Annuities are often used as part of retirement planning to ensure a steady income stream after an individual stops working. They are tax-deferred, which means that annuity assets are taxed upon withdrawal.

Types of annuities

Annuities vary, but they can typically be sorted into two categories: immediate annuities and deferred annuities.

  • Immediate Annuities involve transferring a lump sum in exchange for regular payments, starting immediately. These payments can last for a set period or your lifetime. They offer a guaranteed income but limit access to funds and have no growth potential.
  • Deferred Annuities involve transferring assets over time, with payments deferred until a specified future date. During the accumulation phase, the annuity assets have the potential to appreciate, potentially leading to growth through investment returns and tax deferrals.

Annuities can also be classified based on how the payments are structured:

  • Fixed Annuities provide a guaranteed fixed income stream, where the payments remain constant over the life of the annuity.
  • Variable Annuities allow you to invest in various sub-accounts, typically mutual funds, which can fluctuate in value based on market performance. The payments from variable annuities are not fixed and can vary depending on the performance of the underlying investments.
  • Indexed Annuities offer returns based on the performance of a specific market index, such as the S&P 500. Indexed annuities provide the potential for higher returns than fixed annuities, but typically come with risks and a cap on the maximum return you can earn.

Annuities have the potential to be beneficial when strategically applied to a comprehensive estate plan. It’s important that any annuity you consider is customized to align with your overall financial objective. We can help you with that.

Proudly offering annuity legal services throughout South Florida

Determining the most suitable annuity strategy for your legacy goals takes proactive planning and a knowledgeable attorney who can guide you through the process. Fort Lauderdale annuities attorney Geoff Levy is the ideal estate planning lawyer for South Florida residents seeking comprehensive guidance on annuities. Get started ensuring you and your family are protected. Contact Geoff to schedule a free consultation today.

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Free Consultation. Contact Us Today.

If protecting your legacy and the financial security of your loved ones is a concern of yours, it’s a concern of ours. Let’s talk. Our law firm provides legal services in English and Spanish. Free consultations for new clients.

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