[Download] "Creditor's Rights Under Private Annuities and Grantor-Retained Annuity Trusts in Florida" by Florida Bar Journal " Book PDF Kindle ePub Free

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eBook details

• Title: Creditor's Rights Under Private Annuities and Grantor-Retained Annuity Trusts in Florida
• Author : Florida Bar Journal
• Release Date : January 01, 2009
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 74 KB

Description

The second part of a recent two-part Florida Bar Journal article titled "Unraveling the Mysteries of the Florida Exemptions for Life Insurance and Annuity Contracts, Part Two" discusses the creditor protection elements of annuity contracts. (1) The article discusses inter alia the exemption granted by F.S. [section]222.14. Under this statute, the proceeds of an annuity contract issued to a Florida resident are statutorily exempt from the beneficiary's creditors. (2) The article reaches the conclusion that a private annuity arrangement should not qualify for protection under the Florida statute as an exempt asset because the legislature did not intend to protect private contracts. (3) The authors respectfully disagree with this perspective in light of the analysis and authority cited below, which includes general rules of statutory construction and the bankruptcy decision in In re Mart, 88 B.R. 436 (S.D. Fla. 1988), which specifically held that a private annuity contract entered into between a debtor and a trust established by the debtor was a protected annuity under F.S. [section]222.14.

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