Are you a good money manger but have no money in hand to invest? Do you want to pay off your debts or create a college fund for your grandchildren? If you have a structured settlement from a lottery win, lawsuit or insurance payout, you may be able to turn the annual payments into a one-time lump sum. By selling an annuity settlement, you can control your money, to use it as you need.
Do you have a structured settlement annuity?
Structured settlements are a popular way of disbursing large amounts of money. The money may originate in lottery payments, a lawsuit settlement or an insurance payout. By the end of 2013, the total value of deferred annuity contracts was more than $2.58 trillion. This sum included 34.8 million individual contracts. The average amount of
Many believe that after wining the lottery, the only tough choice you’ll ever have to make again is whether to receive your winnings as a lottery annuity settlement, or as a lottery lump sum payout.
That, unfortunately, is not true. There are still many other things that winners need to be cautious of. Here are just a few.
If your state allows you to, you’re going to want to remain anonymous if you win the lottery. Nothing will make you a more obvious target for burglars than an announcement that you’ve recently come into some very large lottery payments. It won’t matter if you get an annuity or a lump sum if you wind up getting robbed, after all.
Seeing a Tax Pro.