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February 2012

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If you have clients with old tax-deferred annuities that have substantial appreciation, the time for those clients to convert is now! As a result of certain provisions within the Pension Protection Act of 2006, which went into effect this year, clients who convert old tax-deferred annuities into new tax-deferred annuities which contain riders for long-term care benefits can avoid paying income taxes on any of the gains - if the new tax-deferred annuity is used to pay long-term care expenses.& ...

Disclaimer: Krause Financial Services is incorporated in the State of Wisconsin. Dale M. Krause, and Krause Financial Service, Inc., by means of this web site, is not offering legal advice. With respect to the material contained in this web site, some of the material may be affected by current and future changes in law. For those reasons, the accuracy and completeness of such information, and the opinions of its author, are not guaranteed. In addition, because of the complexity and interrelationship of various areas of law which are presented in this web site, from which there may be certain exceptions or limitations, the strategies and plans outlined in this web site may not be suited for every individual, in every state. As such, it is strongly suggested that before employing any one, or more, of the techniques, strategies, expositions of any law, the reader should secure the services of a competent elder law attorney in their respective state.

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The Time is Right to Convert!