Frequently Asked Questions
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Frequently Asked Questions |
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Why couldn't I get an advance on my structure settlement annuity through the annuity's insurance company? If your annuity was issued under a structured settlement resulting from a litigation claim, advancing payments is not allowed under the IRS code 130 (c). However, assigning your payments is legal. Those payments are considered your personal property while the annuity itself is not.
How do you determine the amount that I would receive for my deferred payments? To determine the offer, several factors must be considered including the time required for the receipt of payment, the credit worthiness of the organization guaranteeing the payments and the underwriting costs.
How long does the process usually take? On average, the complete process usually takes from three to four weeks.
Can I change my mind during the process? Yes. Upon signing and returning the contract, you have three days to change your mind.
Should I contact a personal attorney to represent me? Yes! We strongly encourage our clients to seek legal counsel.
What are the tax implications of receiving a lump-sum payment today in lieu of future income from my deferred payments? Although we can not provide tax advice, we strongly suggest that you consult a qualified tax advisor for information on the tax consequences in your area. |
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Please contact our Webmaster with questions or comments. |
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Copyright 2001 Vicente.net |
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