Annuities are one of the most confounding and controversial products in the “investments” world. The decision to buy one is complicated and can leave you “stuck” in a product that does not fit now, or may not in the future.
Tax policy is a political football, the right vs. left game is on with a vehemence perhaps not seen since the old New Deal was young, and, if nothing else, we are blessed to be living in truly exciting times.
Recent changes in tax treatment have induced a false sense of immunity in many families and their advisors, to the point where a healthy respect for the ravages the estate tax might visit on family wealth has waned, if not disappeared.
Tony Soprano’s consigliere’s woeful counsel’s quote about real estate taxes, that “you gotta pay those,” implies far more elasticity in the income tax burden, for those in the know, than the property tax one.