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[quote=Anonymous]I know of 3 people who have done annuities:
1) An older man who wanted to be a part of a university that offered him very favorable rates. This gave him a fixed income until his death and he got to be a part of the university which he lived close to. A win-win for them both, especially since he had other assets. This was primarily a way to be a part of something he loved in a meaningful way in the last two decades of his life.
2) A woman whose father has Alzheimers and despite her having plenty of other money, and her fiduciary financial planner advice she shouldn't do it, she wanted one for peace of mind. Perhaps because she has plenty of other money she felt she could afford that as a form of peace of mind??
3) A father who feels he can't trust his adult children to spend their inheritance wisely, so he put the money (before his death) in one giant annuity. 
To the OP, I agree with others on the trust. However that means there has to be a trustee who will manage for the offspring after OP is gone.[/quote]

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