Q&A Friday: What Is the Best Annuity to Buy for Your Children When You Die?

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Welcome to Q&A Friday. I am your host,

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Stan the Annuity Man, America's annuity

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agent, licensed in all 50 states. This

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question of the day actually came from a

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client, Rob D. I'm not going to give his

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last name out. So, if you email me at

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stantheanuityman.com,

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your topic might make it to the big

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time, and it has made it to the big

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time. Rob wanted to know, "What's the

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best annuity to buy for your kids when

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you die?" Now, let's go on record. Death

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is not a good strategy because you can

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only use it once. Can I get an amen?

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Yeah. But in this case, a lot of us have

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kids. Some of them are called wandering

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ambiguities out there that are just

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floating around living under the

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umbrella of capitalism that we provide,

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which is okay. They're kids. They'll

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eventually find themselves. But if you

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want to leave money to your kids in the

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future when you die, the best product is

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a single premium immediate annuity. the

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original granddaddy of all the original

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product. No moving parts, no annual

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fees, no market attachments, a straight

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transfer risk pension for lifetime

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payments. So how do you do that standing

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man? That's what Rob was asking. It's

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very simple. You go to your estate

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planning lawyer and you say to them,

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"When I die, when my lurg hits the

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mountain, when my Ferrari hits the tree

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and I go kapoof, I want this amount of

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money to be per purchase a a single

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premium immediate annuity for my kid

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Johnny so it will pay Johnny for the

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rest of his life." I always tell

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parents, and parents listen to me here

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because I I have the same kids, right?

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They're either going to show up to your

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funeral in a Ferrari that they bought

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with cash or a Ferrari that they're

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making payments on, right? So, what are

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we going to do? We're going to make sure

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it's just payments. You don't want them

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to go to the casino and blow the money,

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okay? Or rent the helicopter to come see

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you at your funeral. So, what we're

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doing is we're buying an immediate

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annuity for lifetime income. And that

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lifetime income would be based, okay, on

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your child or children, however you want

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to set it up, on their life expectancy

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at the time that that annuities

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purchased or at the time you die. So

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that's the way I it's in essence called

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lovingly handcuffing your beneficiaries,

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lovingly handcuffing your children

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because they're they're going to hate

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you for not giving you the lump sum, but

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when that monthly amount hits for the

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rest of their life over time, you're

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just going to be chipping away at them

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that daddy loves you. Daddy loves you

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every payment. Daddy loves you. Daddy

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loves you. Or mom, mama loves you. Or

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mama, daddy loves you. You know what I'm

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saying? The point is single premium

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immediate annuities. Your estate

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planning lawyer will understand what

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you're talking about. If they do not,

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then they went to the wrong law school

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and they should call me and I'll walk

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them through it and give them another

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piece of information they need to hold

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on to. Because us baby boomer old people

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out here, yes, I know what you're

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saying, Stan. There's no way you're that

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old. Yes, I am. I've done the same thing

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for my kids. When I die, I know it's

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going to be a sad day. Okay, I know that

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when I die, my kids there there's going

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to be immediate annuities purchased for

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them at that time. They don't know that

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now. Okay, that's going to provide a

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lifetime income stream. And you're

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saying, "Well, wait a minute. Why would

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I is there a reason?" Yeah, because

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Social Security is probably not going to

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be around or they're going to means test

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it and call us all the evil rich. So,

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why not create pensions for your kids?

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It's the gift that keeps on giving,

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right? So question to Rob. Thanks Rob

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for the question. Again, you can email

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me a question at stantheanuityman.com.

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I'll try to get and and film every

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single one of them. But that's what you

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do. You set it up that an immediate

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annuity is purchased. Typically people

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say this is the lump sum or you could

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reverse engineer it and say use the

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amount of money to create this amount of

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monthly income. We can do both. Um and

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you know just just you know help me out

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a little bit. tell your estate planning

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lawyer to use us because we are the

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annuity man and I'm nice enough to do

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this video. So hopefully that answered

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the question. If not, you know, go to

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the annuity man, book a call with one of

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my licensed people here, team members

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that are not on commission. They are not

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hammers looking for nails. They're

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looking to listen to you using their

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ears and mouth and proportion two to

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one. My name is Stan the annuity man.

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See you next time.