Healthy attorneys may get a better deal on structured attorney fees by pairing a life only annuity with life insurance , if the attorney is insurable. Life only annuities yield more than life annuities with a certain period. The certain period is really insurance. Since attorney fees are both income taxable and may also be part of an attorney's estate, companion life insurance, purchased through an ILIT may help solve the problem. There's usually enough money in the spread to make it work. Plus 20 year level premium term insurance is now available up to an issue age of 70, and up to age 65 for those who want 25 years level premium.
A properly designed ILIT will keep the life insurance proceeds (which are income tax free) out of the attorney's estate. There is no estate on a life only annuity since payments cease upon death.
Attorneys aged 50 and up who want to structure legal fees should consider this strategy among others.
For more information John Darer, CLU ChFC MSSC RSP 888-325-8640