<prompt> Human: Ill try to keep this short, my boyfriend just got a call from his grandfather about transferring his annuity over to him. He said he is going to send the paperwork tomorrow, but the account is a MetLife annuity worth 66k.His grandfather is going through a divorce. The first thing I thought was that he was trying to hide marital assets by transferring the account over to another person. Obviously, this is highly illegal. So I already told him that this is my 1 red flag. If the boyfriend decides to move forward, Im going to insist he seek out legal advice. Ill pay for it, I dont care. But I feel like a professional needs to have an opinion about the legality of transferring assets during a divorce.Secondly, the fact it was with MetLife immediately make me think whole life insurance policy and I warned my boyfriend that he should be sure it is an annuity and not a whole life insurance policy that he doesnt want to make payments on anymore. No way am I letting him take over a life insurance policy account.Anyways, onto the financial aspects:I know annuities are assets that pay-out over a fixed period of time like I give MetLife X amount of money today and theyll give me X amount for X number of months for X number of years. Typically, the return on the assets is much lower than the market but it is safer in the sense that the payments are guaranteed. They can be useful for old people who may develop dementia or otherwise misuse money as they get older. Let me know if any of this is incorrect.What are the liabilities of taking over this annuity account? Is it something that would be a gain for my boyfriend he has student loans, so if it was possible to use the money towards that it would be great? Or is it a huge liability?Any and all financial and legal apart from the divorce, because we will contact a lawyer for that advice appreciated.EDIT: We are still waiting on the paperwork, however, grandfather has enlightened us by saying what he wants to do is actually make boyfriend and boyfriends brother co-owners with him on the annuity. He said the annuity is a stock annuity maturing in 3-5 years. Wasnt really helpful since we still dont know if its fixed or variable, but should know when we see the paperwork.The fact he wants to co-own it seems weird to me. Whats the benefit of co-owning as opposed to just making him and his brother the beneficiaries?Final Edit: Well, the mystery may never be solved. Grandpa decided to just make him a beneficiary x200B;  <response>: Annuities and Whole life policies are different financial vehicles. Annuities provide no death benefit, other than possibly the initial capital invested being returned. You need legal advise on liabilities related to accepting a gift of this nature. If grandpa owned the property prior to his marriage with current wife, this may all be above board. Laws differ by statecountry. 