No. of Recommendations: 1
...I agree the income taxes due are potentially a problem. ..

You really need professional tax advice on this. It would be good to have your preliminay taxes done in December so you can know what the affect will be in 2010. In might be best to delay this until 2011 or even split it in December and January.

You also need to take a hard look at the annunities details. "Even a broken clock is right twice a day" and it could be that the annunity had good enough terms that even though they are generally a bad idea, this could be a situation where it turned out better than you can get with the current low interest rates.

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