Market Victim: Your Inheritance
Wall Street Journal (08/06/02) p.D1; Greene, Kelly

Baby boomers' collective inheritances will be slashed by 15 percent to $150 billion per year over the next five years as the market continues to struggle, and many retirees refuse to sell homes and stock. Meanwhile, retirees are spending more on travel and health care, forcing them to revise their estate plans in these harsh economic times, according to this article. One option is to set up a private annuity trust--an individual's assets are moved into a trust which then sells the assets to provide a yearly income payment--but while capital-gains payments are drawn out over the client's life expectancy, the return will never get bigger.

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