If you are mulling over in your mind your list of tangible assets, savings accounts, and creating your will, you may be trying to determine that trifecta question of how to be able to keep what you have in your name, have access to income, but still leave something as a legacy to your heirs. A Fixed Index Annuity might be a good solution to consider. This type of product may be able to help you by providing both an income stream and offering a death benefit to your heirs. Many find this more beneficial than gifting away assets during your lifetime, because that gift would carry with it your original purchase price (carryover basis) and holding period. So, if and when your heirs decide to sell the asset, they will incur capital gains on the appreciation from the date of your purchase to the date of their sale. Call us, we know of some great products that might help you meet your objectives. We’re always here to help.
