I have a question for the group.
My mom has a dozen or so annuities over nine or 10 different companies that are part of my parents portfolio. My father’s not around, so a lot of this is falling on me. I would like to get them all under one account one company. I started to read about a 1035 exchange. I’m wondering if any of the annuity people on this sub Reddit have any thoughts whether this is a good idea or a bad idea. She already has them so she’s not gonna sell them. I know a lot of people are against annuities, but they already exist.
She has a brokerage account with one of the large companies and I was wondering if I should transfer them via the 1035 all over to the same brokerage as long as I can get some decent rates.
Thanks for any thoughts.