Selling an Annuity Payout Plan
So let’s say, after a long, eventful life, your Uncle Bart passed away, leaving you with his fishing poles, a 1997 Buick Regal, and an annuity payout plan. You now have a way to get from point A to point B, and a few extra pieces of gear if you like to fish, but what about that other thing?
Along with the natural grief of losing a loved one, there’s sometimes the consolation of receiving their gift — assets willed to you to help the next generation. Most people understand the inheritance of money or valuables, but not as many Americans know what it means to inherit an annuity. An annuity payout is a fairly complex financial contract that involves structured payments. It can be a great source of financial relief, especially for those annuity holders who take the time to learn how to use it most effectively.
Selling an Annuity: Getting More Cash Up Front
If you inherited an annuity, you will receive scheduled payments over time. But sometimes you need that money sooner. For large purchases or financial emergencies, selling an annuity can be a solution to help you avoid potential debt.
Selling an annuity can be a great way to increase the balance in your bank account, but there can be some complications with this kind of transaction. You will have to make sure that you meet all of the rules for a specific kind of annuity, and it’s also a good idea to look at tax liabilities. Discuss your annuity sale idea with your financial planner or tax professional to find out if it’s right for you.
Selling an Annuity: Finding a Structured Settlement and Annuity Buyer
Another key detail in selling your annuity is finding a quality annuity buyer firm. Annuity buyers will buy your annuity, leaving you with a lump sum payout in cash. The annuity buyer firm will help you work through the nuts and bolts of the annuity sale process, including all legal requirements and timelines.
Selling your Annuity with CBC
If you’ve inherited an annuity, CBC can help you to sell your annuity for cash. Whether you’re familiar with this kind of asset or have no idea how to handle it, we can assist in setting up the best annuity sale plan for your specific needs. We have helped many annuity holders sell their assets easily and with the highest possible yield. We’ll keep you informed every step of the way, handling your annuity sale professionally and maximizing the benefit to your budget. Let us help you make the most of your inheritance.
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