Planning Lifetime Income for Your Spouse: Shootin' It Straight With Stan

In this episode, The Annuity Man discussed:  Annuities for your spouse and loved ones  Throwing darts at death  Planning for cognitive decline  Filling in financial gaps   Key Takeaways:  Using a trust, you can set up an immediate annuity purchase to trigger when you pass away to provide lifetime income for your spouse using a designated lump sum. You can use annuities to lovingly handcuff your young beneficiaries, providing them with guaranteed income instead of a lump sum.  Buying an income rider, deferring it out, and setting it up as a joint-life policy is like throwing darts at death because you don't know when you're going to die. Death is not a good strategy.  The problem with planning for something for your spouse in case of cognitive decline is that you don't know when you have cognitive decline, especially if you are already in cognitive decline.  You can set up a plan that will fill in financial gaps that your spouse can enjoy when you pass away, and it can be set up so that your death triggers it. However, you can also throw some calculated, contractual darts if that's what you prefer.    "Now, while you're alive, if there's something like a pension or something that's going to be reduced upon your death, we should start planning upon your death to replace that gap for your spouse. That can be done at the time of your death - it can be triggered by your death. Or we could throw some calculated contractual darts. " —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: [email protected]  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!