Private Annuities can be a helpful tool when it comes to estate planning and asset protection. Simply put, a private annuity sets up an agreement where Party A transfers property to Party B in exchange for Party B to provide payments to Party A for the rest of Party A’s life. A private annuity can only be private however if neither party is an insurance company or otherwise in the business of selling annuities. When dealing with private annuities however, it is necessary to consult with a legal attorney so that the process is handled correctly and legally so as to be enforced.
At Clausen & Centrich PLLC, we dedicated to assisting our clients in creating, maintaining, and enforcing their own private annuities. With over 90 years of combined legal experience, our veteran attorneys understand the importance of protection your assets through legal means without ignoring your other legal, financial, and business needs.