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age calculation

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ByChris C

L1: age calculationIf a non-qualified annuity is owned jointly by a husband and wife, can only one of their ages be used to calculate the distribution or do both ages have to be figured in?2004-04-29 08:41, By: Chris C, IP: [216.163.254.3]
L2: age calculationI haven’t seen any rulings on a jointly owned annuity contract relative to the calculation of the age. However, since age is typically defined as the age of the owner and the contract is jointly owned, you may very well have to use a joint calculation – check with the issuing insurance company.
If you want to use single life calculations, consider changing ownership to either you or your spouse and then implementing the plan.
2004-04-29 11:16, By: Gfw, IP: [172.16.1.71]

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