Facts About Cashing in Your Annuity
If you’ve endured a lengthy and tedious legal journey that resulted in a structured settlement awarded in your favor, you may want to know if you can get cash for it. In short, you can. But before you go to cash in your annuity, you’ll want to make sure you have the necessary information to make a knowledgeable decision. The legal process can take months. So, you won’t get your cash the next day. So, be wary of any buyer who makes this promise. Not all situations for structured settlements work well for everyone. While it can be convenient and comes with advantages like tax and interest, you may find an opportunity to use that annuity cash to invest in a better opportunity that could earn you more than your settlement. When you want to spend your money the way you prefer, then selling annuity payments for cash may be the way to go. Government Guidelines for Structured Settlements Many legal advocates and U.S. courts grant settlements in the form of annuities rather than lum...