Archive for Annuities and NPV
November 13, 2008 at 12:30 am
· Filed under Annuities and NPV, Structured Settlement Transfers ·Tagged better business bureau, broker, comfortable, court, downward spiral, history, judge
Once you find a broker that you’re comfortable with and has made you a fair offer, call the better business bureau and find out if they have a good or bad history. Check to see how many complaints have been made against them in the past year and their entire history, to make sure they’re not on a downward spiral over the past 12 months.
Remember, you’re going to have to get this agreement past a judge in your local court, so make sure you have gotten some good advice along the way. I highly recommend a financial planner at least, or if we’re talking some more substantial amounts of money, an estate planning attorney.
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November 13, 2008 at 12:29 am
· Filed under Annuities and NPV ·Tagged annuity, broker, chances, lowball, Market value, quote, quotes
Now back to the main topic of finding the best deal for someone to buy your stream of annuity payments. You know how much you’re going to get over the lifetime of your structured settlement, and you know what the present value of that cash flow is. Now you need to find some brokers and get a few quotes.
I recommend getting no less than three quotes. Chances are you’ll get two lower and one higher quote, which is why three is the magic number. With two quotes, you might get two lowball figures, whereas I’ve found it’s quite uncommon for a third to be below market value as well.
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November 13, 2008 at 12:26 am
· Filed under Annuities and NPV ·Tagged annuity, complexity, court, factors, present value, Selling settlements
Selling a structured settlement isn’t as easy as you might think. There are several factors that contribute to the complexity, including figuring out the present value of future payments, the fact that it is a court-ordered agreement that must be reassigned by the courts, and the terms and conditions that the settlement was awarded under.
I highly recommend that you seek the advice of a financial counselor before you embark on this journey, but it’s not required by law. But remember, you have to convince a judge that this is in your best interest, and a financial profession might be a lot more convincing than you.
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