10/7/2013

A recent Internal Revenue Service private letter ruling provides a new option to clients who inherit annuities. In some cases, a beneficiary can exchange an inherited annuity for a newer, better paying annuity contract as a tax-free exchange under Section 1035 of the tax code, according to the ruling. The article suggests that advisers work with annuity experts to assess the options and offer clients the product with the most benefits.

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