Monthly Archives: June 2015

What happens to my annuity in bankruptcy?

It’s complicated.

First off, an annuity is defined by Merriam Webster as:

a fixed amount of money that is paid to someone each year

: an insurance policy or an investment that pays someone a fixed amount of money each year

In other words, it is a very broad term that covers any number of financial planning tools.annuity

I had a potential client contact me yesterday who had an annuity worth about $30,000.