annuity beneficiary
11Grantor Retained Annuity Trust — A Grantor Retained Annuity Trust (commonly referred to by the acronym GRAT) , is a financial instrument commonly used in the United States to make large financial gifts to family members without paying a U.S. gift tax. [… …
12Charitable Gift Annuity — A Charitable Gift Annuity is a gift vehicle that falls in the category of Planned Giving. It involves a contract between a donor and a charity, whereby the donor transfers cash or property to the charity in exchange for a partial tax deduction… …
13Charitable Gift Annuity — A type of gift transaction where an individual transfers assets to a charity in exchange for a tax benefit and a lifetime annuity. As with any other lifetime annuity, when the beneficiary dies, the annuity payments are stopped, and the charity… …
14Life annuity — The life annuity is a financial contract according to which a seller (issuer) typically a financial institution such as a life insurance company makes a series of payments in the future to the buyer (annuitant) in exchange for the immediate… …
15Private annuity trust — A private annuity trust (PAT) enables the value of highly appreciated assets, such as real estate, collectables or an investment portfolio, to be realized without directly selling them and incurring substantial taxes from their sale. A PAT can… …
16Deferred Annuity — A type of annuity contract that delays payments of income, installments or a lump sum until the investor elects to receive them. This type of annuity has two main phases, the savings phase in which you invest money into the account, and the… …
17Grantor Retained Annuity Trust - GRAT — An estate planning technique that minimizes the tax liability existing when intergenerational transfers of estate assets occur. Under these plans, an irrevocable trust is created for a certain term or period of time. The individual establishing… …
18Stretch Annuity — An annuity option where tax deferred allowances are passed on to the beneficiaries, offering the beneficiaries more flexibility and control over maintaining the investment. Therefore, the beneficiary has less restraints on wealth transfer, and he …
19reversionary annuity — noun an annuity payable to one person in the event that someone else is unable to receive it • Syn: ↑survivorship annuity • Hypernyms: ↑annuity, ↑rente * * * noun : an annuity payable to some person upon another becoming for any reason unable to… …
20refund annuity — noun : an annuity payable until annuitant s death when if total payments have not equalled all or a stated part of the purchase price the difference is paid to the annuitant s estate or to a designated beneficiary * * * Insurance. an annuity… …
