Structured settlements expert John Darer reviews the latest structured settlements and settlement planning information and news, and provides expert opinion and highly regarded commentary. that is spicy, Informative, irreverent and effective for over 20 years.
The STRUCTURED SETTLEMENTS 4REAL® Blog is a highly regarded source for structured settlement news, information, and commentary, led by structured settlement and settlement planning subect mater expert John Darer CLU ChFC MSSC CeFT RSP CLTC. With two decades of operation, the blog and 4structures.com are recognized as comprehensive resources, offering detailed guides and specialized insights. Established in 2005, the blog caters to a broad audience, including legal professionals, injured individuals, families, and various stakeholders, providing reviews and opinions on settlement planning. John Darer, President of 4structures.com LLC, is a seasoned structured settlement expert with over 40 years of financial services experience and 31 years specializing in structured settlements. Based in Stamford, CT, he is a Certified Financial Transitionist and Registered Settlement Planner, holding insurance licenses in 45 states and the District of Columbia. John Darer is dedicated to transparency and advocacy, he emphasizes the importance of engaging trained and licensed professionals for settlement planning, offering valuable insights through his investigative journalism and professional commentary.
Options for Beneficaries of a non-qualified inherited retirement annuity who were unhappy with the annuity contracts inherited from loved ones may have new options under recent IRC 1035 Exchange guidance
In PLR 201330016 the IRS has tackled the issue of 1035 exchanges of non-qualified inherited annuities by a beneficiary, and provides guidance about how such exchanges can be accomplished in the future:
A key takeaway is that the new contract must stipulate that distributions occur at least as quickly as they were scheduled under the original inherited contract.
As long as that requirement is met, and the other standard rules for 1035 exchanges are followed, beneficiaries should be able to make exchanges to new annuity contracts that perhaps better fit their individual needs and circumstances.
Note that an IRS Private Letter Ruling applies to a particular tax payer and a particular set of facts
1035 Exchanges do not apply to structured settlement annuities.
Leave a Reply