California Structured Settlement and Annuity Sale Information
Those who hold structured settlements and annuities in the state of California may want to look into how one of America’s biggest and most populous states handles the sale of these sorts of assets. Each U.S. state has its own laws on selling a structured settlement or annuity, and these are important issues for families who want to sell part or all of a structured asset for reasons like the following:
- to pay for needed home improvements or other repairs
- to fund an education
- to pay medical bills
- to pay down high-interest debt
A structured settlement or annuity sale can be a great way for those who are financially stressed to deal with nearly any sort of emergency, but it’s essential to know how the state views this kind of deal.
California Law and Disclosure
A major part of California law on structured settlements and annuities involves letting asset holders know that they have options, and making sure that they can secure a fair deal for themselves. The courts also look at the welfare of dependents, where child support issues may have an impact on a structured settlement or annuity sale. Generally, the California laws on structured settlements and annuities are set up to ensure that the seller gets a fair shake. Rules on disclosure are, therefore, very clear — in fact, the state provides a kind of ‘template’ for those who are working with structured settlement or annuity sellers to show what details must be included in paperwork for one of these transactions.
California Law and Independent Counsel
Another aspect of disclosure and consumer protection is built into the CA law and referenced a number of times. The state requires that a seller be advised about obtaining “independent legal or financial advice” before signing onto a structured settlement or annuity sale. In fact the CA law requires that the structured settlement buyer provide up to $1,500.00 to cover the cost of the independent legal or financial advice. That professional advice will allow the structured settlement or annuity holder to understand the documentation and make a good decision about whether a particular deal is a fair one, considering what they could get elsewhere on the market, and how much their future payments are considered to be worth.
SELL YOUR STRUCTURED SETTLEMENT OR ANNUITY WITH CBC
Professionals usually advise structured settlement or annuity holders to go out and get multiple bids from asset buyers. The best buyers will offer structured settlement or annuity sellers more for their assets, and go to great lengths to provide education to consumers, keeping customers informed about their deal every step of the way.
CBC has that kind of great track record of working with customers to facilitate an easy and equitable structured settlement or annuity sale. We give special attention to every client, and our dedicated staff will work with you closely to get you the kind of structured settlement or annuity deal that you want. Let us help out with this very important financial decision.