Are you looking to provide a guaranteed financial safety net for a loved one? Whether you want to fund an account for an aging parent, an adult child, a spouse, or a grandchild, you absolutely can buy an annuity for someone else—but you need to structure the contract carefully to avoid unintended tax consequences.

In this unfiltered video, Shawn from The Annuity Expert explains the specific rules around gifting annuities. He breaks down the critical difference between the "Owner" (the person who controls the contract, makes withdrawal decisions, and names beneficiaries) and the "Annuitant" (the person whose age and life expectancy are used to calculate the payout). Because most modern annuities are "owner-driven," retaining ownership means you keep total control over the money, even if the income is meant for someone else.

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