As an estate planning concept, the private annuity is seldom included in formal estate plans but more frequently employed by families acting without professional assistance who are seeking to assure income for so long as the parents live. The private annuity is best known for the problems inherent in its use; however, there are situations where the private annuity can be a useful part of an overall estate plan.
Harl, Neil E.
"Private Annuity: Useful Concept or Troublemaker?,"
Agricultural Law Digest: Vol. 1
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol1/iss19/1