My wife's uncle passed away recently. He had heart issues, so it wasn't really a surprise, but it's still sad and tough to deal with.
Details of the uncle's estate are being worked out, but at first blush it looks like my wife is the benefactor of an insurance annuity. It's large enough that -- depending on the type and conditions, which we don't know yet -- it could affect out income tax situation in bad way.
I'm wondering if there's a situation where the insurance company could say "Ok, here's your annuity. You must take it. Now." ?
Considering that it's December, I don't want to be in a position where we have to accept some, or all, of the proceeds in the current tax year without a lot more preparation. Or, is there some standard acceptable time window to "take possession" of the annuity or its proceeds?
Ideally, we'd take our time, figure things out, and make well-considered decisions.
BTW, I've been doing research here and elsewhere already, but I'm sure I'll post some follow-up questions on the MMM forums.