When you give someone a gift, they can do with it what they want. I'm surprised MIL knows what they did with it.They sold it right away, and it turned out it was a few bucks short, so we had the info.Thanks for your heads-up on the prrating of the rest. I need to look more closely at the detail. All I saw was the 33% deductible first year. If you can deduct the rest over time, and still get the annuity, then the gift annuity should work out better than the insurance once, and is also a pretty good scam on the IRS.
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