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Archive for October, 2009

How Selling Annuities Work

When You Sell Your Annuity, Ever Wonder How It Works?

The annuity seller usually gives an application and offer letter to a broker or buyer, and in exchange receives the broker or buyers best offer. At this point, a practical seller should compare the offers of various brokers. Some brokers pursue competitive offers from many funding sources that result in fair and desirable prices to their sellers. Other brokers on the other hand have exclusive relationships with a single funding source, reducing competition and lowering the price the brokerage can offer the seller. If you are thinking of selling your annuity payments, you should make sure that the broker you choose is certified.

How Long Does The Proccess Take When I Sell My Annuity

Many brokers offer a rapid turn-around time. Much of the process depends on local laws, as well as the willingness of the seller’s insurance company to participate in the sale. Legal hassles on the part of the insurance company may delay the sale, but usually the seller can overcome these obstacles with little difficulty. Sales are normally concluded within 4 to 16 weeks. Most people getting lump sum cash for future annuity payments receive their funds within eight weeks.

The processes involved in the sale of annuity payments vary in accordance to individual circumstances as well as state laws. However, regardless of these differences in individual cases, the seller is always protected from risks, costs, and taxes.

Categories: Annuity Payments, Blog, Woodbridge Investments LLC.

Do You Have to Sell All Of Your Structured Settlement Payments?

When Structured Settlements Are Not Enough

Personal injury victims receiving structured settlement payments are painfully aware of how unpredictable and unfair life can be.

You can never tell when disaster may strike and put you in a financial situation that cannot wait for periodic payments. It is during such times that many opt to sell structured settlements for a lump sum of cash.

Selling Structured Settlements: The Partial Lump Sum Option

The flexibility of a lump sum gives people the power to spend when they need it. Many of those who have decided to sell structured settlements assume that they are obligated to sell all of their payments and are surprised that they don’t have to. As a matter of fact, most lump sum transactions only involve a fraction of the payment stream.

This is actually the best option for any seller: a partial lump sum transaction to cover a current financial emergency without sacrificing the security of periodic payments.

Beware Structured Settlement Buyers Who Keep You in the Dark

There are some structured settlement buyers who take advantage of sellers who are ignorant of this fact. Now that you know, be wary of companies who do not bother informing you of your this option.

Everyone’s financial situation is unique, so take your time deciding how much money you require for your present need – because the decision may affect your future security.

Categories: Blog, Buyer of Structured Settlement Payment, Cash Structured Settlements, Woodbridge Investments LLC.

Selling Annuities: How to Spot a Good Deal

Sell Annuities To Get Immediate Lump Sum Cash

The primary reason someone opts to sell annuities is to get a lump sum of cash for immediate spending. If you are thinking of selling an annuity, ask yourself how much of it are you willing to sell? Whether you sell all or just a fraction of it, you can be sure that you will receive considerable income from your sale. Planning and diversifying your investments are the best ways to increase your profits.

When selling an annuity, you may opt to find a reputed and reliable company to do the selling for you. Such large companies possess the resources and expertise needed to complete such transactions.

Sell Your Annuity Directly!

Another option is to sell annuities directly to the person who wants to procure it. Although this is not commonly exercised by annuity payment sellers, it will make you seem more trustworthy to the buyer because you are willing to deal with them personally.

Here are some issues you have to address
when looking for prospective annuity payment buyers:

•    Are the contact details and business information verifiable?
•    How long has it been since his business was established?
•    Does he own bonds or insurance policies?
•    What are the underwriting criteria?
•    What rating does he hold with the Better Business Bureau?
•    How many annuity plans does he buy every year?
•    Does he handle annuities similar to yours?
•    Does he have knowledge regarding your company and state laws?
•    What pricing will he put on your annuity?
•    Is he a principal or a broker?
•    Does he provide timelines for the process?
•    Is he connected to a large company?
•    Does he use several financial sources in the quote?
•    Does he handle business communications professionally?

These are but a few of the many questions you must answer before you sell annuities. The annuity sale process can take as long as 2 to 4 weeks. Although the long wait can feel inconvenient at times, you are sure to enjoy the inevitable satisfaction of receiving a large sum of money you can spend as you please.

Categories: Annuity Payments, Articles, Woodbridge Investments LLC.

Success Stories and Endless Posibilities From Selling Your Structured Settlement

Selling Your Structured Settlements
Can Lead To Your Dreams Coming True!

Decisions are never easy when it comes to money. We are pulled so many different ways on how to spend and invest our income. And it’s not any easier when we are receiving structured payments from work-related or personal injury settlements, lottery winnings or annuities.

But the decision to sell structured payments need not be a long and winded process. People are making the choice to sell structured payments all the time and a lot of them testify that these have either solved a lot of financial problems or made their dreams come true.

Baton Rouge- A Construction Workers Sell Settlement Success Story

Take for example the case of a construction worker from Baton Rouge who sustained an on-the-job injury in September 2004. His injury was bad enough that he was unable to work in construction. After filing and winning the lawsuit, he got a settlement that helped support his family for a few years. But things don’t always remain smooth and easy because at some point his wife’s health took a turn for the worse and the bills started piling up. With the decision to sell their structured payments to Woodbridge Structured Funding their financial woes were soon solved.

California- Women Opens A Home Bakery Business Thanks To Woodbridge Structured Funding!

A woman from California was also thrilled to find out that she had won the lottery. It was a great thing regardless of how she got paid but it was NOT one of those mega-million jackpots so pay outs would not be that big a sum. She decided that she needed the lump sum so she could move into a better house and start a home bakery business. The sale of her structured payments made two of her greatest dreams come true.

Retire From Your Settlement!

Retired couples can also get the most by selling part of their structured settlements. When one couple from Ohio decided to retire and move to Clearwater, Florida their immediate problem was getting someone to buy their old home. Selling their structured payments allowed them to secure a down payment for their new payment while waiting for a buyer.

And these are only a few examples of people who got money they needed and deserved to turn their lives around!

Categories: Blog, Sell Structured Settlement Payments, Structured Settlements, Woodbridge Investments LLC.

Selling Your Settlement? Know What Yours Is Worth!

Even When Not Yet Selling Your Settlement,
Get Quotes from Structured Settlement Buyers

Most structured settlement recipients do not foresee a need to sell their payments in the secondary market for structured settlements. However, knowing the value of your structured settlement payments may come in handy later on should a financial emergency force you to sell structured settlement payments.

 Know What Your Structured Settlement Is Worth

To know your structured settlement’s worth, contact a number of structured settlement buyers and ask them how much they’d offer should you decide to sell. Before calling, prepare your documentation – including a copy of the settlement agreement and the annuity policy. The purchasing company can quote you their offer much quicker if you immediately provide them the information in these documents.

Ask How Much Portions of Your Settlement Are Worth

When asking for a quote, don’t just ask them for the value of the entire settlement you want to sell. Inquire how much portions of the annuity payments are worth, so you will have a good idea of the kind of flexibility you might have in customizing the transaction to fit whatever needs you may have in the future.

Categories: Blog, Buyer of Structured Settlement Payment, Cash Structured Settlements, Sell Structured Settlement Payments, Woodbridge Investments LLC, lump sum payments.

Sell Structured Settlements In This Economy

Sell Your Structured Settlement
If Your facing Financial Hardship In This Economy

Structured settlements are financial agreements that allow compensation to be paid through an annuity in scheduled payments, for either a fixed period of time or for the life of the plaintiff. Since it is suitable for individual claimants, the structured settlement may also include an upfront payment to cover any contingency.

In many cases, a structured settlement is the best way to cater to a plaintiff’s needs. For example: catastrophic injuries and wrongful death lawsuits that include replacing the lost income of the deceased; Permanent or long term disabilities; and workers’ compensation cases.

However, there are some instances in which structured settlements are not suitable. An award for a minor injury sustained in an accident would probably not necessitate the use of a structured settlement. In situations where extended hospitalization or long term treatment is not needed, a lump sum award may be sufficient to provide for the needs of the damaged party.

Why Many People Choose To Sell Structured Settlement Payments

Once a structured settlement agreement is reached, the terms are fixed, and there is no allowance made for unexpected financial emergencies. This is why many people choose to sell structured settlement payments for cash. Life situations change and people may want to buy a new home, start a business, return to school or train for a new career. A lump sum of cash offers more flexibility and greater control over the money than a structured settlement.

Perhaps the most persuasive argument for selling structured settlement payments is inflation. In an economy where the value of the dollar decreases over the passage of time, it may be wiser to get the lump sum now before inflation erodes the value of a settlement. A lump sum of cash properly invested today could be worth more than the future value of a structured settlement.

You Can Choose All or A Fraction
When Selling Structured Settlement Payments!

When selling your structured settlement payments, you can choose to cash in all or just a fraction of your future payments. This option offers immediate cash without having to sacrifice the long term security of a structured settlement. If you decide to sell structured settlements, make sure to sell the amount necessary to meet your financial need.

Lastly, carefully choose a buyer that gives the most cash for structured settlement payments, a buyer who has been in business for at least several years. Check out potential buyers with the Better Business Bureau, and do some research to determine if past customers have been pleased with the company’s services. By doing your research now, you ensure that you will not come to regret selling your structured settlement later.

Categories: Articles, Buyer of Structured Settlement Payment, Cash Structured Settlements, Sell Personal Injury Settlements, Woodbridge Investments LLC.

How To Sell Lottery Payments

HOW TO SELL LOTTERY PAYMENTS

Lottery prize winners receiving payments over time may be able to convert all or part of their future payments into an immediate lump sum cash payment.

Though some states prohibit assignment of future lottery payments, certain conditions can lift this prohibition. Such conditions include bankruptcy, the splitting of assets required by a divorce, and the need to fund a major medical procedure.

Need Lump Sum Cash Now?

If you need a lump sum now but want to keep receiving part of your annual payments, you can choose what is called the “split payment option”. Under this option, you literally split your future lottery payments into two parts. One part is given to you as the lump sum you need now while the other part is given to you on your periodic/annual payment day.

The Process When you Sell Lottery Winnings

When you sell lottery payments it takes about 2 to 3 months to complete. The process cannot be any shorter than that because you have to get a court order instructing your state lottery commission how the original payment arrangement should be amended.

Since the tax treatment of a lump sum gained through the sale of lottery payments varies from case to case, it is best to consult with a tax adviser.

Furthermore, since you need court approval for the transaction, also seek the assistance of an attorney.

There are many companies out there who want your lottery winnings. You don’t want to accept the first offer that comes along when there’s a company out there that’s willing to pay you top dollar. Compare the offers of many different companies. Look them up online and check with the Better Business Bureau (BBB) to see if they have a complaint-free record. Exercise prudence because a bad decision may leave you with a raw deal that you’ll regret for a long time.

Information You Should Have Handy When You Want To Sell Your Lottery Winning

Lottery payment buyers normally require the following information to provide you a quote:

•    The state in which the lottery winning was won
•    The exact amount that was won
•    The gross payment per year
•    The actual value of the check you receive each year (after taxes)
•    The exact annual lottery payment date (month, day, and year)
•    The total number of payments for the lottery winning.

Sometimes, buyers can purchase from winners who want to sell future payments. It depends on the specific language of the prize agreement. Some prize agreements clearly forbid assignment to another party. Review the agreement with a lawyer to see if future lottery payments can be sold.

Categories: Blog, Lottery Payments, Woodbridge Investments LLC, lump sum payments.

Selling Annuity Payments – How to Easily Sell Your Annuity Payments

Sell Your Annuity Payments Easily

Many businesses buy annuity payments from investors who need lump sum cash. If an investor opts to sell an annuity, prospective buyers offer a bargained reimbursement based on the complete current assessment of the contract. If you are thinking of selling all or just a fraction of your annuity payments, there are a lot of things you will have to take into account before you make your decision

Things You Need To Know Before Selling Annuities

1.    Profits

Companies who buy annuity payments hope to profit from the transaction. The profit comes out of the payments, so you have to decide what matters more to you: getting a large amount through long-term payment or a somewhat smaller amount in a single immediate payment.

2.    Tax consequences

The usual structured settlement is designed to give an injured plaintiff a tremendous tax advantage. It is possible that this advantage may be forfeit if you sell your settlement for a lump sum. Clarify the tax consequences first before selling anything.

3.    Earning capacity

Analyze the stability of your current earning capacity so you can determine if you can cover future finances even without the help of your periodic structured settlement payments.

4.    Restrictions

About two thirds of the 51 states restrict structured settlement sales. If you live in one of those states, you may need to get court approval for the transaction. The sale is further complicated if the insurance company that issued the annuity payment is unwilling to cooperate.

5.    Mode of sale

You can customize your mode of sale by taking into account a number of variables such as:

•    the fiscal rating of the insurance company making the payments
•    the length of time the costs can expand
•    the volume of dealt-upon payments

Other variables may further complicate the sale process, so it may be best for you to consult with financial experts before selling your annuity.

6.    Choice of buyer

Also consider offers from many different buyers. Each of their offers will have its own merits and so you’ll have to decide which offer works for your unique financial needs.

7.    Written agreements

Put your agreements in writing to make them legally binding. Make sure that both you and the buyer have a mutual understanding of the sale before signing anything. Consult with a lawyer or financial adviser if there are points that are unclear to you.

Selling Annuity Payments May Seem Complex but it’s Worth it

These tips are just the initial considerations you have to make when selling annuity payments. The sale is such a complex process that it would be impossible to discuss it in just one article.

Don’t be discouraged though – just maintain that desire to learn more, because in the end, the investment is worth the effort!

Categories: Annuity Payments, Blog, Woodbridge Investments LLC.

Lottery Winners Who Went Bankrupt

Bad Habits and Poor Financial Decisions
Turn Instant Millionaire Lottery Winnings Poor

It is said that money cannot buy happiness and that if a miserable man were to suddenly gain a vast amount of wealth, he would still remain miserable.

The initial thrill of spending money on his whims may afford him the illusion of happiness, but is an illusion that is short lived – especially if he/she squanders everything from their lottery winnings and ends up poorer than he initially was.

Experts have studied the histories of past lottery winners and have discovered that an alarming number of them went bankrupt. These studies revealed that many lottery winners lacked the experience and knowledge to handle a sudden increase in wealth.Unable to cope, they mismanaged their resources till they ran dry:

Some Lottery Winners Who Splurged Their Lottery Payments

•    Evelyn Adams won the NJ lottery twice (1985, 1986) but was unable to save and now lives in a trailer.

•    William Post won $16.2M in the PA lottery in 1988 but now lives on his Social Security
•    Suzanne Mullins won $4.2M in the VA lottery in 1993 but is now deeply in debt
•    Ken Proxmire won $1M in the MI lottery and within five years, filed for bankruptcy
•    Willie Hurt of Lansing, MI won $3.1M in 1989 and ended up broke and charged with murder two years latter
•    Charles Riddle of Belleville, MI won $1M in 1975 and had a life troubled by divorce, lawsuits and drug dealing
•    Janite Lee of Missouri won $18M in 1993 and, according to published reports, only has $700 left in two bank accounts and no cash on hand.
•    A Southeastern family won $4.2M in the early 90s, bought a huge house and unthinkingly kept helping family members pay off debts till nothing was left of their winnings.

Categories: Blog, Lottery Payments, lump sum payments.

Advice For Annuity Buyers

Tips On Selling And Purchasing Annuity

If you are planning to purchase an annuity, take the time to understand the details, restrictions and add-ons involved. If you decide wisely, annuities can make a positive contribution to your portfolio of investments.

Critical annuity factors include:

  • Fees – Evaluate if the yearly fees imposed on annuity plan are worth the benefits you’ll get and determine if the plan imposes “surrender fees” if you decide to make an early withdrawal.
  • Return rates – Make certain that the return rate promised by the insurance company selling the annuity is actually the rate you will receive. Confirm the timeframe during which the rate will apply.
  • Tax advantages
  • Inflation – The value of an annuity may decrease as a result of inflation. You may be given the option to purchase inflation protection for your plan, which could be worth the added fee.
  • Contract terms – Meet with an independent financial adviser before you buy an annuity contract. These contracts can be very complicated.

    • Categories: Annuity Payments, Blog, Woodbridge Investments LLC.