Did you win the lottery? Did you win a lawsuit settlement? Good for you!
Now get back to work.
This may be hard to believe but about 48% of all lottery winners still have to work even after winning. The prospects of people who won a lawsuit aren’t much better. Why is that? Simply put, the lottery and the defendant usually aren’t obligated to pay you right away. In fact, they can take their sweet time making their payments. The Mega Millions lottery, for example, usually spreads out its earnings by 30 years: one initial lump sum and 29 annual payment, each payment 5% more than the last. And on top of that, the government trifecta — federal, state, and local — can take up to 25% of your winnings.
Talk about being unlucky.
As for lawsuit settlements, payments can be very frustrating. Though lawsuits are generally on the rise — employee lawsuits, for instance, have quadrupled over the past 20 years — payments to the plaintiff aren’t easy to acquire, at least all at once. No matter what kind of jackpot you find yourself in, the reality is getting paid is much easier said than done.
However, there are options for people with money coming to them — on paper. Structured settlement annuity benefits are a great way to start getting paid quickly. Annuity settlements ensure that you get the money owed to you promptly. Whether it is a lump sum from the Mega Millions to an advance on a lawsuit settlement, cash for structured settlements are more than attainable.
There are several different kinds of structured settlement annuities. They vary on time tables, rates, management fees, and other factors. No matter what you decide on, the end result is always the same. For more information about cash for structured settlements, feel free to leave a comment or question at the bottom.