Annuities in Connecticut Estate Planning

Did you know that a couple can reduce their assets to qualify for Medicaid by purchasing an annuity?

The case of Lopes v. Department of Social Services, 2d Circuit, 2012, established that spouses who live in the community can buy an immediate annuity to help their spouse qualify for Medicaid. Instead of having to spend down hard-earned investments on nursing home bills or exempt assets, you can purchase an annuity to provide a valuable income stream to the caregiving spouse. Attorney Cipparone thought this development so important that he wrote a book covering this technique and all aspects of annuities.
This book removes the mystery behind annuities. It covers state law as well as federal law. The Appendix contains the primary reference materials needed to evaluate annuities and determine their tax and Medicaid consequences.

From this book, you will learn:

The types of annuities and their many features

The income tax consequences of selling an annuity

Whether to name a trust as a beneficiary of an annuity

How to report an annuity on an estate tax return

What to look for in an annuity contract

The treatment of annuities for Title 19 (Medicaid) purposes

How to use immediate annuities to qualify for Medicaid

Whether an annuity can protect clients from creditors

Regulations applicable to annuity sales agents