Selling An Annuity Quick – Quick Access To Your Cash

You need quick access to a major cash flow so you are thinking of selling an annuity quick.  There are all kinds of reasons that you may need cash quick and for many people the only means they have of obtaining that cash flow is to sell that annuity quick.  So what does that mean?

For many people unexpected expenses arise fairly quickly and they need access to their cash just as quickly.  Perhaps there is a major medical emergency that requires a quick outsource of money flow.  Perhaps a child is going to go to college and the expenses are more than you anticipated.  Perhaps you have a home fire and need a new home.  All kinds of life changing events can happen that are unexpected and you really do need that cash.

So what can you do to gain access to that cash?   For some people the solution is as simple as selling an annuity quick.  To do this you would need to find an annuity purchaser quickly.  But be aware even with the demands that are being placed on you to get the fast cash, you do not want to get careless in your research to sell your annuity quick.

So you are wondering what I mean by that last statement?  There are many annuity purchasers out there who are willing to help you.  However, you want to make sure that you are getting a fair price in what you are selling.  This requires doing research on the annuity purchaser to insure that you do get the most bang for your buck.

How can you go about this research?  Well there are some things that you should know first.  First off you should have an understanding of what an annuity is. 

An annuity is a plan that is purchased paying premium payments or a lump sum to a company that in turn will pay you payments at a later date until the time you pass away.  There can be riders purchased to have the annuity continue even after you pass away to your beneficiary.  Usually the payments to you will begin when the premium is paid in full.

It is vital before you ever consider selling that annuity to weigh the pros and cons of selling that annuity.  You already know that one of the pros is that you will have the ready cash at your fingertips.  Another pro is that you can pay off bills, buy a house, and pay off that tuition or whatever else you want the purpose the money for. 

So what about the cons?  One con would be that you will not receive those installment payments that you were planning on in your retirement years.  Another is that you would lose part of what the annuity would have paid off.  There are always penalties to everything that we think is good.

So what steps do you take to sell an annuity quick?  First off be prepared.  You will want to have some information on hand before you ever make those calls to an annuity broker.  You want to know what the current value is of your annuity.  Depending on the type of your annuity the value can go up and down with the stock markets.  So you want to know what that current value is of your annuity.

You also want to know what company holds your annuity.  Another piece of useful information is when the first premium payment was paid.  These pieces of information will be questions that the broker will ask when you talk to him.  So be prepared.

Another way to prepare is to do research on the annuity purchasers out there.  You should be able to locate them on the internet so check out their webpages.  You should be able to locate on their pages information about their company, testimonies from former clients, as well as other useful information about them.  Then go check out the Better Business Bureau and see what kind of a report that they have on the annuity purchaser. 

Do not limit yourself to calling just one of these brokers.  Get quotes from various ones.  Let those various annuity purchasers what the quotes were from the other purchasers.  It only makes sense to have some competition going so that you can benefit from the selling of your annuity quick.

For whatever reason you may be considering selling that annuity quick, it pays to take a little time to make the decision to do so.  One of my teachers said one time to wait at least three days to make a major decision.  Maybe this should be one of those wait three days times of your life.

Settlement Purchaser – Choosing The Right Purchaser

Today’s economy has warranted many people to seek out a settlement purchaser to buy their structured settlements, annuities or lottery winnings.  Hard times have struck the pocket books of many and they are searching out available means of currency to supplement their incomes and to hang onto their material possessions that they have worked hard to purchase and keep.   When searching out a settlement purchaser, how does one know that they are choosing the right one?

After you have searched all possible options in raising the money that you need, you realize that selling that structured settlement, annuity or lottery winnings may be your only viable option.  Still you want to think very carefully about selling your structured settlement that you were awarded because of an injury that perhaps has rendered you unable to earn a steady income.  You may be able to find a settlement purchaser who is willing and able to purchase just part of your settlement, leaving something for you to continue to receive payments from.  After all some is better than none.

One of the first things you want to do when you decide to locate a settlement purchaser and sell your settlement is to find a reputable broker.  Now remember that some settlement purchasers are settlement brokers as well.  They will help you locate a purchaser as well as help you with the paperwork that you will have to fill out and file to sell your settlement.  They can also help you with negotiations and the processes that you will have to go through while selling your settlement.

It may even be in your best interest to consult an attorney.  After all you are about to walk into a legally binding and complex process.  You want to have the attorney check out the settlement purchaser who you are considering selling to and their reputation.  You want to be as informed as you can be about the whole process.

Then before you take that final step it is a good idea to check with the holder of the settlement, annuity or lottery winnings to see if the policy can be sold to a settlement purchaser.  Some settlements are structured so that the benefits can only be received by the original recipient.  Annuities are the same way.  Should you decide to sell your structured settlement or annuity, it is best to know ahead of time if you can or not.

When you have completed these steps it is time to start researching and choosing the settlement purchaser that you will use to sell that settlement.  You need to prepare yourself.  Your broker can help with this or you yourself can do research on the purchaser over the internet.  Most have websites that you can go to and check out their company and what they do.  You can also request a free quote from that company through most of their websites.

Do some background research on the settlement purchasers that you are considering selling to.  You want to make sure that they have a solid reputation.  The perfect picture is that the company has a long history without incident of purchasing settlements.  You can find much of this information on the Better Business Bureau’s website.  It will show you how many years they have been in business and how many complaints they have had and how many have been solved.

Once you have taken these steps, seek out quotes.  Do not limit yourself to one settlement purchaser.  You can compare the quotes.  It is also a good idea to let each of the purchasers know what the other quotes are.  Do not lie about the quotes, just be honest.  Your settlement is your bargaining chip at this point, so you might as well use it to your advantage.

Selling your settlement to a settlement purchaser will require the legal approval of a judge.  This step is for your protection.  With the help of your lawyer this should be easily accomplished.  Sometimes even the settlement purchaser will take care of this step for you.

You want to make sure that are of the clear understanding with yourself that when you sell that settlement to a settlement purchaser it is gone.  You will not have that to fall back on anymore.  So it is the suggestion of this writer to make sure that this is something you truly want to do.

Lottery Winnings – Can I Sell My Lottery Winnings

I hit the lottery and I want to know can I sell my Lottery Winnings?  These monthly payments are only going to last a certain amount of time and I feel that I should be able to enjoy my lottery winnings now. 

Many times this is exactly the thought sentiment that most large lottery winners think.  They do wonder if they can sell their lottery winnings and reap the benefits now.  They want to make their life a little more stable at the time and could definitely use that lump sum instead of having their winnings stretched out.

You can sell your lottery winnings for one lump sum or you can take and sell part of those winnings and keep the rest for the periodic payment plan.  You should be aware though that some states do not allow for the selling of lottery winnings.  However, this mandate can be overruled with specific circumstances.    They can be over ruled in such instances of bankruptcy, a divorce that requires split assets and in the need to fund a major medical issue.

If you choose to sell your lottery winnings you should know that the process will take two to three months.  This process takes so long because you have to go to court to obtain a court order addressing your state’s lottery commission on how the original payment should be restructured. 

Since there are so many ins and outs concerning the sale of lottery winnings, it is in your best interest to consult a tax adviser and an attorney.  Each state has its own set of rules regarding taxation of lottery winnings.  The tax advisor could help you make sure that you stay within those guidelines so that you do not get into trouble.  And of course because the release of the lottery winnings requires a court order it is really in your best interest to have an attorney represent you to make sure that all I’s and all the t’s are in place legally.

You want to make sure that you do your research on any company that you are considering selling your lottery winnings to.  There are a lot of them out there that are willing lottery winning purchasers.  You want to check out each and every one that you are considering with the Better Business Bureau, also known as the BBB.  They will have reports on there about the lottery winnings purchaser as to how many years he has been in the business and whether or not that company has complaints and how they have been settled.

If you do decide to sell your lottery winnings, then it is important that you have some information available when you are seeking out that quote for your winnings.  The purchaser or buyer will want to know what state the lottery was won in.  They will want to know the exact amount that was won and what the gross payment per year is.  The will want to know the exact amount of the check you receive each year before taxes and the exact date of the check.  They also will want to know the exact amount of payments that are to be made to you throughout the time that you are to receive your lottery winnings pay out. 

It is always a good idea to get several quotes from several creditable companies.  Healthy competition can only benefit you.  It will also allow you to compare what it out there to compare to.  Of course, you getting the top dollar for your winnings is important to you.  So again do your research on the companies as well as on the quotes.

If you are considering selling your lottery winnings make sure that you are covered legally, tax wise and with research.  You can locate a lottery winning buyer who will help you make the most of your winnings in the present.  We hope we have answered your question about “Can I sell my lottery winnings?”

Lottery Lump Sum Payment – Are Lottery Lump Sums The Best?

When a person wins the lottery one of the questions that they often ask themselves is should I take a lottery lump sum payment or should I take installments?  The answer to that question would depend all on what you want to accomplish with that money you just won.

So what do you want to accomplish with that money?  Do you want to do home repairs or maybe some home remodeling?  Maybe you just want to purchase a home outright and not have to worry about a mortgage.  If the home repairs and remodeling projects are within reason, perhaps you could manage that on the installments that you would receive from winning the lottery.

However, if you want to purchase a home outright, more than likely the lottery lump sum would be your best bet.  Let us face the fact that not too many of us have the kind of money that it would take to purchase a home outright so that we do not have payments to worry about in the future.  In today’s economy and the way that the housing industry is so unstable having a home that you do not have to worry about making the mortgage payment is truly a blessing.

Maybe you have one, two or maybe even three children who are going to college or who will be going to college.  Your decision choice on whether to take the installments or the lottery lump sum could depend on how many children are of college age or coming to that age and where they want to go to college.

Let us face the fact that most college tuitions are not cheap by any means.  Then if the child moves away from home there is the issue of housing to consider as well as food and clothing expenses.  With one child in college you might be able to afford that on the installments received from your lottery winnings, and may I stress Might.  Much of that would depend highly on the college that they choose to go to. 

However, if you have two children in college and maybe a third coming up within a year, the lottery installment plan would be eaten up with installments made to the college’s tuition of your children’s choice.  Perhaps you would not miss that money as it has not been money you are used to having.  So what you will make in the installment payment would automatically go out to pay for the tuitions.  Yet if you already have children in college and are paying the tuition out of pocket you could free up cash that you have on hand by taking the lottery lump sum and paying out right for the tuition.

In today’s economy nobody likes to have a bill or make payments of any kind.  Maybe you want or need a new vehicle.  You could purchase that vehicle outright and not have to worry about making the payment every month.  You could do this on the lottery installment plan.  However, it would be pushing it depending on how much the installment plan.  The lottery lump sum would afford you the added benefit of purchasing that vehicle without the added stress of another payment.

There are many reasons to consider the lottery lump sum payment.  Ultimately the choice is always yours.  However you would need to weigh the pros and cons of those choices carefully. 

Annuity Purchaser - Sell That Annuity

Many times circumstances in our lives warrant searching out an annuity purchaser to buy that annuity you have to free up some cash flow and eliminate some stress.  Jobs fail or in this economy, they just outright disappear.  Medical bills may be off the wall to the point that you have no idea how to survive.

Stress comes in many forms.  However when it is financial stress, it can add to so many other types of stress.  Money can be a real stressor.  You wonder how bills are going to be paid.  You wonder how you are going to put food on the table.  You wonder how you are going to get your kid the braces that he so desperately needs.

Perhaps you have a child who will be attending college in the fall.  So far she has not qualified for a scholarship.  You know that the costs to you are going to be something that will not be easily attained on your current budget.  So what do you do?  How are you going to see that everyone’s daily needs are met while your daughter fulfills her dream of attending college?

Maybe a storm rolled through and a tree fell on the house.  Now you need to make repairs to your home that your home owner’s insurance does not cover.  There is no extra money for you to draw from to make those repairs.  Now what do you do?  How on earth are you going to make repairs to your home?

So seriously what do you do when a situation arises that mandates that you get your hands on a flow of cash to help you make it through the tough times?  The answer may be as simple as selling that annuity that you are holding onto.  You may not really want to do that but sometimes we have to do things that we really do not want to do but find that there really is no other way. 

You should weigh the pros and cons to selling your annuity to an annuity buyer.  Is this really what you want to do? Is selling that annuity for one lump sum really in your best interest?  Is there any other means that you can get your hands on the money you need?  How is selling this annuity going to affect me now and in the future?

Once you have answered these questions and you have made the definitive decision to go ahead and sell that annuity what is your next step?  Do you call the first company that buys annuities and accept their offer?  How do you know that you are getting a fair and reasonable price for your annuity?  How do you know that the company will treat you fairly?

Before you ever make that call to sell your annuity to an annuity purchaser, you absolutely should find out what the value of your annuity is.  Without this information you pretty much put yourself out there to be taken advantage of by some companies.  Knowing how much your annuity is worth allows you to be able to be a little more selective about the company you do select to sell your annuity to.

Research the annuity purchasers.  There are a number of annuity buyers out there that are more than willing to take and buy your annuity.  It is in your best interest to research these companies thoroughly.  Check out their Better Business Bureau rating.  Go to their website and check out what other customers have to say about them.  Also check out their web pages to see how much time that they have taken to try to get their product out there.  All of these things will tell you about the annuity purchaser.

Once you have done this get quotes from several annuity purchasers.  It does not hurt either to let each one of them know what other quotes you have received.  Healthy competition is always good between competitors and could benefit you monetarily. 

It is always a tough decision between meeting the need now and preparing for the future.  Make your decision wisely and choose wisely what annuity purchaser you want to use to help you achieve your choice to sell your annuity.

Annuity Payment Buyer – Making Annuity Payments Work For Retirement

Today’s economy is causing many people to sell their annuities to an annuity payment buyer.  However, maybe they should look at the bigger picture before they consider selling that annuity.  The decision is ultimately the annuity holders, but they need to be informed of their choice and make it wisely.

With today’s economy in the state that it is in, many people are not relying on building their retirements on their own but are turning to annuity payments to secure their retirement benefits.  People do not want to worry about their golden year retirements so they are doing all that they can to secure that position of stableness and peace.

In recent months people have been changing the way that they purchase annuities.   Most have been purchasing annuities that are known as immediate annuities over the variable annuities.  The reason for the change is that the immediate annuity makes steady gains on the investment as opposed to the variable annuity which fluctuates. 

People want to know that their investments are going to give them a guaranteed return when they need them.  They are investing mainly in insurance payments that will convert the lump sum payment into lifelong payments so that their retirement is a little easier for them to face.

Are financial advisers happy about this trend?  Not really.  The financial advisers feel that annuities do not bring back to the investor enough outsized gain.  They also feel that once the investor hands over their money to the insurer that the investor cannot get it back or if they do so it has to be at a loss to the person who did the investing.  Financial advisers also feel that variable annuities are too complex and filled with hidden fees and agendas.

People are finding that annuities give them a definite sense of security over their 401K investments.  Since so many people are fighting losses in their investments these days, they have found a definite appeal in the annuities.  With annuity payments coming in on a steady basis to supplement their social security in their golden years they do not have to worry about their money running out. 

Are there any potential problems that people should know about before investing in an annuity?  There are potential problems with just about anything.  Many people have a general idea of what an annuity is, but have no idea what kinds of questions that they will need to answer when they are thinking of investing in an annuity.  Do you know how much money you want to invest?  Do you want an immediate or gradual return on the money you invest?  How do you want to invest the money that is left over?

Immediate annuities allow you to make a payment convert into a monthly, quarterly, or annual payment for life.  What a way to set up for your retirement.  You should know that most annuities are fixed which means that you will need to set the payment amount when you set up the annuity.

The extra income that you receive will come at a cost.  Most of the time, you will have to forfeit the principle to the insurer.  You will receive payments based upon the interest and a portion of the principal based upon your expected life span.  When does the payment stop?  The payment stops immediately when you die no matter if you have gotten back your initial investment or not.

Willing to settle for a lower income from your annuity?  If you are, you can purchase over riders that will help you deal with some issues that you may have with annuities.  No one wants to leave their heirs empty handed when they pass away.  You can purchase a rider in which your heirs will continue to receive your annuity for a specified amount of months after your passing.  You can also specify a rider also that at a lesser return on your monthly check, you can have an adjustment for inflation added to your annuity.

Annuity payments can be critical to your security of a set of golden years that are stress free from financial worries.  You just have to do your research and plan carefully.  With today’s economy everyone is having to plan and research thoroughly every single thing that they do.  Purchasing an annuity should also be the same.  Secure your future with knowledge and empower yourself with that knowledge.

Structured Settlements – Frequently asked Questions About Structured Settlements

Structured settlements often leave people having many questions.  Although structured settlements are frequently used in our society, to many people do not know much about them and do not understand them.  This leaves people asking many questions about the structured settlements. 

We will explore some of these frequently asked questions and do our best to answer those questions about structured settlements with hopes that you will be better informed.

Why do companies want to buy structured settlements?

Structured settlement companies purchase structured settlements at a profit from the individual who was awarded the settlement.  Most of these companies will take the profit that they make off of structured settlements and reinvest in to their portfolio.  In turn what is left is also used to pay employees and pay for advertisement to draw in more structured settlements.

When considering selling a structured settlement make sure that you choose a financially healthy structured settlement company.  That way you will not have to worry about the company going bankrupt.  A financially healthy company will be able to offer more for structured settlements.  They also will be able to take and pay you out of cash flow instead of borrowing from banks or other financial institutions.

Companies are drawn toward structured settlements because of taxation and because of a safe cash flow.  There always people who are in need of quick cash and are willing to sell their structured settlements to get it.  The hardest work for the structured settlement buyers is the marketing and getting court approval to purchase the settlement.

Is selling structured settlements a good investment decision?

Most of the time selling structured settlements is not a good investment decision for you, but is great for the structured settlement buyer.  When selling your structured settlement is possible to lose up to half of the value of the structured settlement that you possess.  That is quite a loss. 

You also have to look at the fact that you will have a regular payment coming into your household that is tax free.  If you sell that structured settlement taxation may become an issue.  You may end up owing state and federal taxes at the time of the sale.  In other words, that means more money out of the amount that the purchaser pays to you.  That is a loss to you.

Can I sell my settlement?

Yes you can sell your structured settlement or structured settlements.  You will find that there are many structured settlement buyers who are more than willing to buy your structured settlement.  Do your research on the companies.  Choose a couple reputable companies and compare the offers they give you. 

Do I have to sell all of my payments?

You do have the option of selling only part of your structured settlement and keeping part of it for future payments.  It basically would depend on what you need the money for.  Maybe you have had a health issue and you need money to pay hospital bills.  Then you would only need to sell enough of your bills and maybe to live on until you can get on your feet.  You do need to remember that you will probably be taxed on the part that you sell, so you might want to draw enough to meet that need also.

Can I sell my structured settlement in parts more than once?

Yes you can do more than one transaction on your structured settlement.  Many people do this when they do not plan well for the money that they have drawn out the first time.  Also unforeseen instances happen and it leaves one in need of more cash quickly.  It can be done, but it is best to try to plan well for the need at the time and for anything that you think might come up in the near future.

These questions are the most frequently asked questions about structured settlements.  Hopefully we have given you some useful information that will help you along the way should you decide to sell your structured settlement.  The best piece of advice that we can offer anyone who is looking into selling a structured settlement is to do your research.

Structured Settlement – What You Need To Know About A Structured Settlement

You have been injured and the court has awarded you a structured settlement.  You know nothing about what a structured settlement so you need to do some research to find out what a structured settlement entails.

Did you get awarded a structured settlement because you had to take someone to court because you got injured because of negligence of that individual or corporation?  Did the subject you sued offer to settle out of court?  You will find with a structured settlement will come choices that you will have to make.

You might think that when you are awarded any amount from the defendant, that you will walk away with a check in that amount.  That is one option or choice for you to make if given that choice.  However, the judge may award you a structured settlement in which you will receive installments on the initial amount.  Depending on your circumstances, this may be the ultimate way to go. 

What happens when a judge orders a structured settlement?  Usually the person or corporation that lost the suit will go and purchase an annuity from an annuity company or an insurance company.  The annuity or insurance company then in turn pays you installments based on specifications that you and your lawyer stipulate in the structured settlement case.

The installment payments can be tailored to meet your needs.  You can receive them in an annual payment.  You can also set up more complex arrangements by receiving part of the structured settlement award in part as a lump sum payment and then having the rest sent to you on a monthly basis.  Sometimes there are provisions added to the structured settlement that will also address and allow for future medical expenses above and beyond the settlement amount.

What are the advantages of a structured settlement?  The biggest advantage is that you will have a steady income coming in.  Another advantage is the taxation issue.  You may be able to avoid the taxes if you want to receive installments.  Yet if you choose to take the lump sum and reinvest it you could be responsible for taxes on the interest that you accrue over a period of time.

Are there any negatives to receiving a structured settlement?  There are a set of negatives that come with everything.  A structured settlement is no different.  Once you agree to the structure of the structured settlement, there is no turning back.  It is legal and binding.  That is why it is necessary to have an attorney and a financial advisor help you with setting up a structured settlement. 

The attorney and financial advisor can help you by setting up the structured settlement so that you are protected from inflation.  They can also see that it is structured to meet your needs.  If there is a chance that you think you will not live to receive the full benefit amount, an attorney or financial advisor may be able to see to it that your family will continue to receive the benefits that you would have received. 

You may choose to accept the installment payments of your structured settlement, but at a later date you decide that you need a large sum of money and want to sell all or part of your structured settlement.  When this happens you will need to locate a structured settlement buyer.  That buyer will present you a quote for the value of what is left of your initial payment. 

Selling your structured settlement is completely up to you.  Perhaps though you should question yourself about the reasons for selling it.    Once you receive the lump sum that you sought out are you going to run off and spend that money foolishly until the money is all gone?  Is the money going to go to a child’s college tuition?  Are there medical bills that need to be paid?  Are you going to use it to pay off the mortgage?

So now you know some basics about structured settlements.  Hopefully you will be able to take this knowledge and make the most of your structured settlement and make it work for you.