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Subject:  Re: Annuity Rip-Off? Date:  7/22/2000  10:22 AM
Author:  rjm1 Number:  4578 of 22385

Quick question. I'm 39, but my in-laws (both 70+) were pitched a plan by an agent of the Senior Information Center (NFI), selling The Commodore Variable
Annuities -- an Annuity Investors Life Co. My in-laws don't
have a ton IRA funds, and they use the minimum withdrawls required now to pay expenses. However,
they were told that this annuity would protect their assets (principle) in case one or both of them required a long-term stay in a nursing home. This didn't sound
quite right to me, but I'm curious if others with
more first-hand experience would tell me how to help
my in-laws get started with estate planning. Yes,
I know they need to see a lawyer, but they'll need
to do some pre-reading before we meet with a lawyer
so they understand the ramifications of failing to
establish even a modest estate plan; or worse, falling prey to the annuity salesperson.... Any advice on where to start, books to read, etc?

Try posting here Estate Planning

Be sure your attorney is an estate and or elder care attorney.

If you get an annuity be sure to do a lott of shopping.

Large mutual funds may have inexpensive annuities.

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