What if I need to receive more money in addition to my fixed monthly income payments? Can there be any type of variability as to receiving more money before retirement, if needed?
A. Yes. (1) The Annuitant may also receive a loan from a bank or other lender in the amount needed. (2) If the Annuitant knows that he/she may need more money before retirement and prior to setting up the Private Annuity, then two annuity contracts could be set up in the Trust. One for the amount of income the Annuitant needs presently and the second for the amount which would be deferred until retirement. Calculations would be based on the balance of the value of the asset in the Private Annuity Trust.
