Welcome to the Jill on Money Coronavirus Market Update. It is Wednesday, August 12th,

and we are here to hold your hand and answer some financial questions.

If there's anything that's driving you crazy or maybe not even driving you crazy,

but it's kicking around in your brain, why don't you send us an email. It's Ask Jill at Jill on money.com.

Ask Jill at Jill on money.com. That's our email address. And of course you can always, always send us a note from our website which is

conveniently called Jill on Money.com. We've got a contact button. It's in the upper right

hand corner and we'll be happy to answer that.

George followed up to a question about an annuity.

He wanted to clarify that he was referring to a variable annuity with guaranteed

lifetime withdrawal benefit, not an immediate annuity.

And he wants to know if my advice would still be the same, look, guys, I generally want to avoid

annuities, almost at all costs. Unless there's a real reason,

and unless insurance company has mispriced

their annuity contract for some reason,

but generally speaking, for most people,

I think they are to be avoided because they're expensive

and you can't get to all of your money at once that's for sure and usually you have some

sort of surrender period so I know the idea of having consistent income always makes people very happy, but there's a price to be paid for that.

So that's just my two cents.

Ron asks, when money is inherited, is there a reporting document for the IRS no but if the

estate has to file a return then the estate I don't know if you're managing the

estate that should be dealt with the executor

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