Wealth Management Solutions
Annuity Exchange

Rescue Your Annuity 

This program allows a client to exchange an under performing or unsuitable annuity for another financial instrument that provides tax benefits and a secure income starting now or in the future.

 

Using an IRS recognized 501(c)(3) public charity, we can exchange your current annuity at the full accumulation value for a tax-deductible installment income plan.

 

The installment plan is a contract that pays income for a guaranteed number of years regardless of age, can have an unlimited number of named beneficiaries on a single contract, and is defined in general in Section 453 of the Internal Revenue Code of 1986.

This is an opportunity to exchange a variety of assets including annuities with surrender fees.


Here is how the exchange works:

 

q       You transfer ownership of your current annuity to a qualified participating charity by completing a simple change of ownership form.

 

q       The charity absorbs all surrender penalties and issues a new installment contract at the full accumulation value.

 

q       A guaranteed, fixed, payout can begin immediately or it can be deferred, depending on your wishes, and the payout stream can be directed to children or heirs, guaranteed for any period of years you choose.

 

q       You receive a generous tax deduction. This deduction can be applied to your current income tax return and is used to lower your adjusted gross income reported to the IRS by up to 50% for the 1st year and 5 years of carry-forward, if applicable.

 

q       At your death, any unpaid installments are paid to your named beneficiary. The beneficiaries do not have to be charitable beneficiaries.

 

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United States Department of Treasury Regulation Circular 230 requires that we notify you that, with respect to any statements regarding tax matters made herein, including any attachments, (1) nothing herein was intended or written to be used, and cannot be used by you, to avoid tax penalties; and (2) nothing contained herein was intended or written to be used, and cannot be used, or referred to in any marketing or promotional materials. Further, to the extent any tax statement or tax advice is made herein, Forsyth wealth Management, Inc. does not and will not impose any limitation on disclosure of the tax treatment or tax structure of any transactions to which such tax statement or tax advice relates. Forsyth Wealth Management, Inc. does not provide legal advice to clients. You should review your particular circumstances with your independent legal and tax advisors.