variable annuties

I was just wondering about something…
My 90 year old Dad is the beneficiary of an annuity. Does anyone know what the state and federal tax rate for withhold, if he takes a lump sum?
Also, at his age would he be better off to continue the spousal benefit?
I want to do the right thing with filling out the death benefit for him.

My advice to you is to consult with a tax adviser. They are going to be able to give you much more accurate advice on what will be the best decision, both for your father and for his taxes. It may cost a little for the advice, but it is much better than bad advice for free.

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