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Simple English definitions for legal terms

constituted annuity

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A quick definition of constituted annuity:

An annuity is a type of payment that someone receives regularly, like every month or year. It can be a fixed amount of money or based on investments. An annuity can be for a certain amount of time or for the rest of someone's life. When the person who is supposed to receive the annuity dies, the payments stop. There are different types of annuities, like ones that start right away or ones that start later. Some annuities also have options for payments to continue to a spouse or for a refund if the person dies before receiving all the payments.

A more thorough explanation:

A constituted annuity is a type of annuity that has a maximum duration of ten years and can be redeemed before the term's expiration under certain circumstances. It is a fixed sum of money payable periodically, usually monthly or annually, to a stated recipient. The payments stop upon the death of the designated beneficiary.

For example, if John purchases a constituted annuity that pays him $1,000 per month for ten years, he will receive $1,000 every month for ten years. If John dies before the ten-year term is up, the payments will stop, and his beneficiaries will not receive any further payments.

Constituted annuities are governed by Louisiana law and are different from other types of annuities, such as life annuities or variable annuities.

constituere | constituted authority

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General

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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