August 2015 6
Annuity settlements are confusing things — and if you find yourself dealing with one of them, then you might not have all the control over your money that you wish you had (or maybe the control you need to have).
The most frustrating part of an annuity is the fact that the money is technically yours, but it’s tied up in an account either for a certain number of years or until you reach a certain age (usually that age it 59.5 years old). For those who choose to receive their lottery payments in the form an annuity rather than receiving a lump sum lottery payout, payments are usually sent out in sm (more…)
Most people would have gotten impatient, upset, maybe even angry. Not Marilyn Looney. When the 82-year-old, Long Island grandmother’s hair dresser was running late for her appointment, she shrugged it off and went to the convenience store next door. She was rewarded big. The scratch-off ticket she bought while there turned out to be worth $7 million in lottery payments. According to the local CBS affiliate, it was the store owner who informed her of the news.
“He read it and he came jumping over and said, ‘My God, lady, you’re a millionaire. You’ve just won $7 million,’” Looney said. “I grabbed my cellphone, called my daughter and said, ‘Get down here, we just won $7 million.’”
She wasn’t just paying lip service to her daughter either. Looney and her daughter, Carol Prevete, have split lottery payme (more…)
Legal experts specialize in a wide array of law subfields like medical malpractice, automotive law, and personal injury law. Specialists have spent years honing their skills and familiarizing themselves with the law to provide the most comprehensive legal aid available to their fields. If you believe that you are entitled to substantial financial compensation, call a legal expert and arrange a meeting. Here is everything you need to know about the legal process and establishing a structured settlement.
Your Day in Court
Finding an attorney to represent you is only the first part of a long battle. Generally speaking, most settlement cases can take up to a year before they are settled. Once the case is finally settled, you may receive your payment in the form of an an (more…)
Buying a car or getting into a college are some of the biggest decisions anyone can make. They go a long way in establishing financial and social independence and are often the most avid goals a twenty-something will make before investing in a house or a retirement fund. However, they’re not always easy to pay for. When you look at methods of payment such as annuity vs lump sum lottery winning payments, sometimes you have to decide the most feasible way of getting what you need without breaking your bank. Below I’ll explain settlement payments and the difference between lump sum and annuity to better give you an idea on how you’ll tackle your dream projects.
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