Many people, over the course of their lives, end up in a situation where they have been awarded a large sum of money, which has then been placed into a structured settlement. The reasons for this cash award run the gamut, from lottery payouts to life insurance or even a medical malpractice judgement. Just the…
Category: Annuity
How to Recoup the Taxes Lost When Winning the Lottery
Nobody likes paying taxes, especially not lottery winners. The lottery withholds about 25% right off the top of a prize amount for federal tax, and then — depending on the state a winner lives and his or her tax bracket — another 6-9% for state taxes. That doesn’t seem like too much, but when you…
Answers to Common Questions About Annuities
Financial matters are notoriously confusing. If you’re considering buying an annuity, you already have one, or you’ve acquired one through transference, you probably have a few questions about them. Here are some answers to the most common questions: What are annuities? Annuities are basically an insurance product than can later serve as a source of…
