Building a customized financial legacy

Consider John and Jane

John and his wife Jane are the joint owners of an annuity contract from MassMutual Ascend Life Insurance Company. They have named their two children, Joe and Karen, as beneficiaries on the contract with the intent to leave behind a lasting financial legacy. John and Jane have worked hard to build a nest egg that will not only provide for their retirement, but also allow them to leave an inheritance. John and Jane want to protect this inheritance and strategically manage how it is distributed.

With their annuity, John and Jane can take a step in this direction by controlling how their children receive their financial legacy.

A tale of two siblings

As John and Jane speak to their financial professional about legacy planning, they realize their two children are in different stages of life. They also recognize they have some concerns about the possibility of leaving them an inheritance.

The solution

Together with their financial professional, John and Jane decided Joe will receive restricted payouts each month for 10 years. They allow Karen to choose between recurring payments or a lump sum payout, granting her the flexibility to minimize any potential tax burden.

For advice tailored to your specific circumstances, contact your financial professional. 

For use with contract forms P1074514ID, P1470218ID, P1113516ID, P1471718ID, P1126818ID, P1135619ID, P1140119ID, P1146620ID, P1140219ID, P1110416ID, ICC20-P1144420NW and ICC20-P1144420NW-NoMVA, ICC20-P1144520NW and ICC20- P1144520NW-NoMVA, ICC20-P1474420NW and ICC20-P1474420NW-NoMVA, P1080015ID, P1457113ID, P1129918ID, P1129918ID, P1134618ID, P1112916ID, P1112916ID, P1470017ID, P1104414ID, P1138919ID, P1088011ID, P1088111ID, P1463016ID, P1459716ID, P1123117ID, P1123217ID, P1133518ID, P1086811ID and P1081610ID. Form numbers vary by state.

This information is not intended or written to be used as legal or tax advice. It was written solely to support the sale of annuity products. You should seek advice on legal or tax questions based on your particular circumstances from an independent attorney or tax advisor.

All guarantees based on the claims-paying ability of MassMutual Ascend^SM. Products issued by MassMutual Ascend Life Insurance Company^SM, a wholly owned subsidiary of MassMutual.

This content does not apply in the state of New York.

Not a bank or credit union deposit or obligation – Not FDIC or NCUA-Insured – Not insured by any federal government agency – May lose value – Not guaranteed by any bank or credit union