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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STEPS - The steps to obtain a quote for your
Structured Settlement, Annuity, Lottery
Award or Senior (Life) Settlement are
very simple and at no cost or obligation to you.
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Contact Us: Call us toll free at
1.866.506.CASH (2274) to
personally speak with a settlement
manager. Based upon the information
you provide, our experienced
professionals can provide a valuation
for your future installments. Of
course, our quotes are subject to
receipt of your documents verifying
the time, amount and source of
the future payments. -
Obtain a quote online: Find out
what your future payments are worth
by clicking on, completing and submitting
the Request a free quote form Upon receipt of your information, we’ll analyze your payment stream and e-mail a customized quote for your payments. -
Complete an application: Once a quote has been accepted by you, we will complete a short application by telephone. If you have not previously provided us with copies of the underlying documentation, we will need it at this time. These include, but are not limited to, such documents as: Release and Settlement Agreement; Annuity Contract; Minor’s Compromise Order (if applicable); Qualified Assignment; Social Security Card; Driver's License and/ or Photo ID. If you did not retain copies of the documentation, the attorney that represented you in the injury case should provide copies to you. In the case of Lottery Awards, we will need a copy of the state award letter. If you are asking for a quote for a Life Settlement, please forward a copy of the life insurance policy and most recent annual statement from the issuer.
- The Court Approval Process: Many states have enacted transfer statutes that require annuitants to obtain court orders prior to assigning their future payments. In addition, Congress passed H.R. 2884 in 2002 providing that a failure to obtain a qualified order pursuant to applicable state law will cause an excise tax on the total discount to be paid by purchaser. The industry standard is 60 to 90 days to obtain the court approval, but ultimately, the time period is dictated by the local court system.
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.