Like many other people who have won the lottery or a lawsuit payment, you may be wondering “How do I sell my structured settlement for cash?” With a specialist financial company, you can be sure of getting the advice you need about selling fixed annuities. With connections to lending agencies and national banks, such a specialist company, also known as a direct lender, can help you make sure you get the best value when selling your structured settlements.
Which should you choose: lump sum versus annuity?
A lottery win runs into millions of dollars. On average, the payout for employee lawsuits is $150,000. In 2013, the total payout for medical malpractice lawsuits was $3.6 billion. That’s a lot of money, but with annuity payments, it could take years and even decades before you control all of the money that is rightfully yours.
You might have all kinds of plans for the money and these do not entail waiting for thirty years before you can access your money. By selling you annuity for cash, you can get all your money in a lump sum, to invest as you choose. You may want to buy a waterfront house, travel around the world, create a college fund for your kids, open your own business or create an investment portfolio. With your cash in hand, all of these goals are within reach.
“Should I sell my structured settlement for cash?”
If you decide to sell your your annuity for cash, you should be aware that the lump sum will be taxed, and at a higher rate than the annuity payments. But this will be a one time payment as opposed to paying the annuity tax every year. You should also be aware that if you have an annuity, it might take up to 30 years for all the money to be made over to you. And in that time, its value will have declined due to inflation.
If you decide on selling your annuity, a speciality finance company with strong links to national banks and other lenders can help you decide on the best option. With their expertise in institutional funding, underwriting, and law, they can help ensure that you get the best possible terms for your settlement annuity.