Private Annuities and related Trusts

[Gary]

Does anyone know where the exact IRC authority related to establishing private annuity payments and trusts might precisely exist?

For eg. a person sells his home and puts the proceeds in a trust and receives a private annuity.

There are actuarial aspects related to the computation of a private annuity, tax aspects relating to the accounting and taxation of such annuities and trusts and legal aspects related to the establishment of such a trust.

I am interested in the big picture on this subject, along with the comprehensive (or exhaustive) authority as to how the actuarial calculation is made.

Thank you.

[mbozek]

See Tools and Techniques of Estate Planning, Leimberg, et al, National Underwriter Co, Cincinnati Oh., Ch 27