Structured settlements

With the economy in the dumps, credit availability strained, and unemployment on the rise, readily available sources of cash are extremely valuable. Some people may have a source of upfront cash that they are unaware, though. The small percentage of the population with a structured settlement annuity as a result of a personal injury award can convert those fixed, periodic payments to an immediate lump sum. Or, if you do not have a structured settlement but do know someone who does, most companies will offer referral fees for brokering business.

Electing to change a structured settlement can be done in a matter of weeks, and there should be no tax consequences as a result of the transaction. Leading companies offering these services handle all of the legal work required, and cover any lawyer’s fees at no additional cost.

A final consideration is that the structured settlement process is very open-ended. This means that an entire annuity can be converted, only part of the annuity over its entire life, or some part of the annuity over a specified period of time. If you are interested in turning your structured settlement into fast cash, it is recommended that you talk to an established company to help navigate through the process.

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