Can Creditors Go After Annuities?

  1. 1000 POINTS
    Tyler Maddox
    Retirement Specialist, Cambridge Financial Group, Greenville, SC
    Most states allow a portion of Annuity funds to be exempt from creditors. For most states this amount is in the $250k-$300k range, however it does vary so check with your states Department of insurance, or with a local Attorney.

    Also, all Annuities have a Beneficiary designation in the event of death. This Beneficiary receives the Annuity funds free of probate. Which means that the deceased's creditors can not touch them.
    Answered on September 28, 2013
    flag this answer
    2. Did you find these answers helpful?
    Yes
    No
    Go!

Add Your Answer To This Question

You must be logged in to add your answer.


<< Previous Question
Questions Home
Next Question >>