Annuities as an asset protection strategy for married couples

A good way for married couples to protect assets.

BUT, doing it wrong could mean HUGE penalties!
  • Our firm’s federal litigation paved the way in Lopes v. Starkowski (2010, 2012)

  • Must be:
    1. SPIA (single premium immediate annuity)
    2. Non-assignable
    3. Irrevocable
    4. Actuarially sound
    5. State must be named as remainder beneficiary

  • Convert assets of nursing home resident’s spouse exceeding $119,220 into an income stream

  • Healthy spouse’s income is exempt

  • No deeming of assets after month of eligibility

  • KNOW the rules!