Personal Investment & Financial Planning Q`s/CLOSING OUT AN ANNUITY


Bruce hi I need. Your. Advice,  my mom is her 80's and the Annuity company said she needs to close out her Annuity. What's the smartest wat to handele the surrend fee,what should she consider the money in. Can the money be rolled. Over in regards to taxes. Thanks Ken

Happy New Year Ken and so sorry for the delay. We were away and had limited internet.

Strange that they make your mom close it out. Ususally people are much older when this is forced. If they are forcing you out I would be shocked if there is a surrender fee. I assume you can roll it over to another annuity company with no tax, check with your company. There is likely another company that will accept an 80+ year old, even if she is a little older for many companies to accept. Consider her liquidity needs before locking her up again

The current company is who I go to first in times like this to find out the options and why she is being booted out like this

Good luck and let me know how it goes or if you need help


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Bruce Julien


I can answer questions on and raise issues clients overlook in the areas of Estate Planning as far as taxes and distribution flow problems, Asset Management as far as appropriateness of assets and allocations for a desired goal and the value a consumer gets for their costs, Tax Planning related to Income and Estates, and Insurance/Annuity questions particularly in light of suitability to the consumer.


I became a CPA in 1991 and began offering financial advice in 1992. I am a Registered Investment Advisor which means I sign off on putting clients' interests first in a fiduciary role.

BA in Accounting, University of Maryland 1990

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