At Patriot Settlement Resources we take pride in helping people obtain a large lump sum of cash now for their future payments from a Structured Settlement, Annuity or Lottery award.
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Congratulations, you’ve won the lottery. After the excitement wears off you understand the jackpot you thought was so big doesn’t seem so good when you realize it may take 20 to 25 years to receive the payments. With inflation eating away the purchasing power of your future payments, and perhaps increasing income taxes in some states, you may decide that having control of your money now might be more beneficial
in the long run.
Patriot Settlement Resources provides lottery winners the option to sell their long-term annual lottery payments in exchange for a lump sum cash payout today. Lottery winners can sell all or only a portion of their lottery payments depending on their immediate financial needs or goals.
In most states a judicial review and/or court order is required to purchase payments from lottery winnings. Following is a list of states that allow court ordered transfer of lottery payments: Arizona, California, Colorado, Connecticut, Florida, Idaho, Illinois, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Montana, New Hampshire, New Jersey, New York, Ohio, Oregon, Pennsylvania, Texas, Vermont, Virginia, Washington, West Virginia, Wisconsin.
This judicial review process is often the determining factor in the length of time it takes to purchase this type of payment stream. The entire process from the time you accept our quote until you have the money in your bank account is often determined by the speed at which a court date is able to be scheduled in your particular state. As a general rule the process takes about 2 to 3 months.
Call 1-866-506-CASH (2274) for a free, no-obligation quote. You may also submit your information by clicking on our Request a free quote form.
What is a Structured Settlement ?
Structured Settlements are an innovative method of compensating injury victims. Endorsed by the US Congress since 1982, a structured settlement is a completely voluntary agreement between the injured victim and the defendant. Under a structured settlement, an injured victim doesn't receive compensation for his or her injuries in one lump sum. They will receive a stream of tax-free payments tailored to meet future medical expenses and basic living needs. A structured settlement may be agreed to privately (for example, in a pre-trial settlement) or it may be required by a court order, which often happens in judgments involving minors and incapacitated adults. (Source: National Structured Settlement Trade Association Website, 6/1/2002)
Why do a Structured Settlement ?
A structured settlement’s most important advantage is security. The structured settlement provides long term payments that are guaranteed by a life insurance company.
Another advantage that a structured settlement provides is its tax-free position. All payments made via a structured settlement are nontaxable by federal tax guidelines (IRS Section 104(a)(2). 100% of every payment is tax exempt.
The structured settlement allows the injured party to tailor payments over his or her life. There is no need to meet periodically with an investment or tax advisor. Payments are decided during the initial settlement and then are directed to the injured victim. It gives peace of mind, security, and confidence over the long term.