Question: I have an adult niece for whom I would like to leave a long-term income. But she cannot be trusted with money. What do you recommend?
Answer: A trust is one alternative. A trust has unique features that may be appropriate for this purpose. But trust fees must be weighed in the balance.
Another possibility is an annuity, which is a contract, issued by a life-insurance company, which can guarantee an income for life. A fixed annuity will provide a guaranteed level income. An inflation-protection rider could be added to increase that income every year. . More>>
AnnuityDefinition.com
