Post : Benefits Of Purchasing Structured Settlement Annuities Directly From Original Annuitant
Title : Benefits Of Purchasing Structured Settlement Annuities Directly From Original Annuitant
Benefits Of Purchasing Structured Settlement Annuities Directly From Original Annuitant
Benefits Of Purchasing Structured Settlement Annuities Directly From Original Annuitant
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The structured sale must be documented, and money must be handled in such a way that the ultimate recipient is not treated as having constructively received the payment prior to the time it is actually paid. For the buyer, there is no difference from a traditional cash-and-title-now deal, except for additional paperwork. Because of tax advantages to the seller, structuring the sale might, however, make the buyer's offer more attractive. Because the buyer has paid in full, the buyer gets full title at time of closing.
Who is sending the check? In some cases, instead of receiving checks directly from the pension fund or insurance company, it has been reported that some pension sales arrangements allow for the pensioner to manually forward his or her checks to the investor. As a result, in addition to the risk the investment may be difficult to sell and the risk that the pension fund or insurance company's financial position may deteriorate, investors are exposed to the risk that the original pension holder may refuse to forward checks to the buyer. You should make sure that the contract spells out who will be responsible for sending you the payments.
This is how it works. The party that wants to buy your structured settlement makes an offer of a lump sum in order to gain the rights for your future payment. This means, you sell the rights to your future instalments for a one-time payment. The downside is that lump sum offer is at a slightly discounted price and is not the exact amount that the annuity is worth. The upside is that you gain a large amount of cash in hand. Usually you also have the option of selling part of your settlement. Which means you can decide to sell only half, third or quarter of your settlement depending on your immediate needs.
Hindert also flags industry opposition for inhibiting the development of a potentially less costly alternative to factoring: commuting, wherein claimants sell rights to periodic payments back to the annuity provider. If, he says, more annuity contracts incorporated a commutation rider offering payees a discounted value of their future income stream, then the need for factoring sales to a third-party finance company charging higher discount rates would be much reduced.
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