Immediate Annuities Can Help Some High-Net-Worth Clients: Tax Attorney
March 13, 2024 by Allison Bell
Some wealth advisors turn red, white or gray at the thought of their high-net-worth clients buying annuities.
For high-net-worth clients, the concern is that annuities create taxable income. The last thing most wealth advisors want is to increase their clients’ tax bills.
Jack Elder, a tax attorney who serves as the senior director of advanced sales at CBS Brokerage, believes that wealth advisors should consider using immediate annuities to clients and their families rather than tapping invested assets for the cash needed to cover their “MUG”: mortgage, utility and grocery costs.
Originally Posted at Think Advisor on March 11, 2024 by Allison Bell.
Categories: Industry Articles
