Q: I am being sued, can I use financial hardship to cash out annuity to satisfy this debt
A:
Hard to say. It depends on the langauge of your annuity contract, and without having read it, no one can say. Also, the fact you are being sued doesn't mean you owe a judgment yet. It'd be best for you to take your annuity contract in to a lawyer to have them review it, and they could advise you. Also, if you are being sued you might want someone to represent and defend you.
As always, you get what you pay for. Be sure to talk to a qualified attorney about your specific situation, before choosing to rely on any information you get from Internet discussion boards such as this one.
A: Likely not and this fact alone. You should talk with your financial advisor about other ways this may be possible without triggering a penalty.
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