Trusts

If you are in need of trust services, we can refer you to advisors that can help you establish a trust to fit your situation. 

Annuities for Cash Management

A Single Premium Income Annuity (SPIA) is a fixed annuity contract issued by an insurance carrier. It is an option to consider if:

• You have already received your personal injury settlement and now want to use all or a portion to provide a steady income.
• You have a lump sum of money available to use to provide a predictable income stream.
• You want a safe, predictable source of income with no active investment management required on your part.

SPIAs offer a fixed rate of return, and there are no on-going investment management fees and expenses that you would have with a variable annuity. They provide a guaranteed stream of income for a certain period of time or for a lifetime, depending on which annuity type fits your situation. Contracts can also be written as joint and survivor. With a SPIA, you can provide for your beneficiaries too. 

A SPIA is purchased with a one-time only payment of principal. Since these types of SPIA purchases are accomplished with "Non-Qualified" dollars, taxes are paid on the earnings portion of the payment as received, not on the portion of the payment related to the return of principal.*

The periodic payments for a SPIA are designed to start within a year of purchase. Payment frequency can be scheduled to meet your income needs, such as monthly, quarterly, semi-annually, or annually. Also, depending on the annuity contract and issuer, different options, features, and endorsements for advances, refunds, payment increases, withdrawals, and beneficiary payments are available.

Call us to find out more information on Non-Qualified Single Premium Immediate Annuity.

* Consult a tax advisor for more information.

Annuities for Retirement

If you are retiring, Kelly Ramsdale & Associates can offer you a Single Premium Income Annuity (SPIA) that will provide retirement income.

SPIAs provide a guaranteed stream of income for a certain period of time or for a lifetime, depending on which annuity type fits your situation. Contracts can also be written as joint and survivor. With a SPIA, you can provide for your beneficiaries too. 

Using a SPIA as part of your total retirement income plan makes sense if you want a safe, predictable source of income with no active investment management required on your part. Also, there are no on-going investment management fees and expenses that you would have with a variable annuity.

This annuity is purchased with a one-time only payment of only certain qualified retirement monies. Since this SPIA purchase is accomplished with "Qualified" dollars, taxes are paid on the payments as received.*

The periodic payments for a SPIA are designed to start within a year of purchase.** Payment frequency can be scheduled to meet your income needs, such as monthly, quarterly, semi-annually, or annually. Also, depending on the annuity contract and issuer, different options, features, and endorsements for advances, refunds, payment increases, withdrawals, and beneficiary payments are available.

Call us to learn more about a Qualified Single Premium Immediate Annuity and find out whether it is appropriate for your retirement needs.

*  Consult a tax advisor for more information.

** A 10% penalty may apply to payments received prior to age 59½.

Annuities for Other Situations

Kelly Ramsdale & Associates offers fixed deferred annuity contracts from insurance companies that can be purchased with Qualified or Non-Qualified lump sum amounts. These annuities make sense when a future guaranteed income stream is needed and there is no desire to make on-going payments.

This type of annuity will provide periodic income that starts at least one year after purchase. These fixed rate-of-return annuities have similar features, options, endorsements, and benefits as a Single Premium Immediate Annuity, depending on the insurance company used.

Call us to learn more about a Single Premium Deferred Payout Annuity and find out whether it is appropriate for your situation.

---

To Us, It's Personal.^SM
Caring | Creative | Professional | Dependable