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Tag Archives: structured settlement annuities

Infallible Tips For Negotiating the Best Structured Settlement Sale Deal

selling a structured settlement

If you have plans to buy a new home, launch a new business or pay off your son’s student loan, then selling your structured settlement may be a wonderful solution for your desires. If you feel that your current payments are not enough to fulfill your needs, then selling off your structured settlement might give you the key. You can either sell whole of it, in parts or lump sums to meet your immediate needs depending upon the situation. There are many reasons why you might need to sell off your structured settlement. You might be tired of staying in a rented apartment and may have the desire to buy a new one. Even repairing of your old home might need a lot of your money and may even trigger the selling of structured settlement. Also, you might have a wonderful business idea for which you might need a lot of money and can’t be availed through the periodic payments. There might be some great medical expenses which might come in the way or there may be huge debt to service for which the annuity payments might not suffice. Also, you might think of investing in property or stocks which ...

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Minimizing Tax on your Structured Settlement Annuities

structured settlement annuity taxes

Structured Settlements were first introduced by the US National Congress in 1982 and served as a novel method to provide compensation to injury victims. As per the rules of structured settlements, victims are entitled to receive tax free monthly payments to sustain themselves, apart from obtaining a huge sum of money following the accident/ injury. Reasons behind Creation of Structured Settlements Previously, physical damage caused to people due to accidents or injuries was compensated by the payment of a substantial sum of money. Often, such a huge sum of money caused problems to the victim and his family. It was difficult for such people to handle a large sum of money all of a sudden. Under these circumstances, it became difficult for the victim to get medical treatment. Some people were also forced to take assistance of other individuals to cope up with the taxes involved with receiving the payment. Thus, in 1982 the Congress came up with the proposal to give money in small amounts to victims of accidents on a regular basis. The primary reasons for receiving payments through structured settlements are injuries, worker compensation and wrongful deaths. Reasons for Opting for Structured Settlements The main reasons for ...

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