Estate Law
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Answered in 16 minutes by:
7/21/2011
legaleagle, Attorney
Category: Estate Law
Satisfied Customers: 13,442
Experience: Licensed Attorney for 7 years
VerifiedThank you for contacting JustAnswer.com with your question. I will provide legal information related to your question.
Was this a tax deferred annuity or an after tax annuity? If he contributed to a tax deferred annuity, then if you take one lump sum payment you will be taxes, not his estate because it is a contract and does not pass through his estate. If he contributed to an after tax annuity then he has paid the taxes on the principle and you will only be taxed on the earnings from his contributions.
legaleagle, Attorney
Category: Estate Law
Satisfied Customers: 13,442
Experience: Licensed Attorney for 7 years
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
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