[DOWNLOAD] "Unraveling the Mysteries of the Florida Exemptions for Life Insurance and Annuity Contracts (Part 2)" by Florida Bar Journal # Book PDF Kindle ePub Free

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eBook details

• Title: Unraveling the Mysteries of the Florida Exemptions for Life Insurance and Annuity Contracts (Part 2)
• Author : Florida Bar Journal
• Release Date : January 01, 2009
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 81 KB

Description

This is the second installment of a two-part article that provides a detailed analysis of the creditor exemptions available under Florida law for life insurance policies and annuity contracts. Part one of this article, in the December 2008 issue, examined several aspects of these exemptions, including the application of the exemption to the proceeds received under a policy because of the insured's death, structural issues regarding the ownership of life insurance, the ability of a debtor to access the cash surrender value of a policy without forfeiting the benefit of the exemption, and the meaning of the term "annuity contract." This final installment discusses one more structural issue related to annuity contracts, that is, does the exemption for the proceeds of an annuity contract apply to deferred annuity arrangements. This issue is important to consider in a period in which insurance companies provide a wide variety of financial products, including several variations of insurance and annuity products, in an effort to remain competitive in the market and offer flexible and attractive investment vehicles to savvy modern investors. This installment also examines the application of the exemption for annuity contracts to traditional estate planning arrangements such as charitable remainder trusts, grantor retained interest trusts and third-party, non-self-settled trusts. Finally, this installment of the article examines the application of the Florida fraudulent conversion rule to the life insurance and annuity exemption under [section]222.14.

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