06/09/2022
Something else to think about especially for those of you of wealth or own very successful businesses in the state of Texas, funds inside your cash value life insurance and annuities are exempt from: garnishment, attachment, seizure, and bankruptcy not only for the insured but for the beneficiaries as well. (See Texas Codes Title 7, Subtitle A Chapter 1108.)
Think about our current conditions and the amount of small once successful businesses failing now. By placing some of your funds in annuities that you want to make sure no matter what happens will still be there. In addition, you can set annuities up to make guaranteed payments to a beneficiary so they may never have to
worry about income.
There are annuities that offer long term care riders. Today's annuities are great tools to assist in the planning of potential life changing events, especially for the ones we cannot control.
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Feagin, Nickolas & Associates LLC