There are very few moments in life when a person can get a large windfall of money with — seemingly — no major strings attached. This happens only when, in a once in a lifetime moment, a person wins the lottery; or when a person received a settlement to put to rest a lawsuit. Lottery winners and recipients of settlements often feel as if their lives have been changed forever. However, the fact is that oftentimes, there are quite a few strings attached for these “wins”. This is especially true in the case of settlements, which are hard-won in the first place, and often end up being given in the form of structured settlements. What are structured settlements? Rather than receiving your money in a lump sum, Continue Reading No Comments
Saturday?s lottery total is $334 million. Taken as it lump sum it?s $205 million. Although both of these numbers are just estimates, they?re both a lot of money. More money than most of the people searching the internet will ever have access to in their lives. But, it?s good to dream, right?
Although few people will face the decision of how to receive this kind of money, many others are offered the choice between taking settlement cash now or receiving their money through a structured settlement annuity. Insurance benefits, court settlements, and, yes, lottery payouts present these options to recipients.
While many people initially think that a structured pay schedule stretched o