If you have a family member that passes away and they have an annuity, more than likely someone will be the beneficiary of the annuity. If this is the case you will either receive a letter in the mail or you could find out the insurance company the annuity is under and call them directly.
When the transfer of the annuity is complete and you want a lump sum of money it is important to know what type of annuity you are the owner of. The most important information you need to know if you are working with a factoring company is whose receiving the payments, the annuity owner name, the payment dates, what type of annuity it is (investment, qualified income, or non qualified income).
For example say you inherited an annuity from your grandmother. You receive $800.00 a month gross but net 600.00 because they take out taxes. Some factoring companies would think this would not be possible to purchase because of being an investment annuity, but it is possible! All you have to do is request a change of ownership and beneficiary form and the factoring company can help you from there.
It is always beneficial to get financial advice from an accountant or attorney to get the best possible solution before you sell your payments. If you are in a financial crunch and you need a lump sum of money, it is best to work with a factoring company that listens to you and understands your needs.
ufc 141 lesnar vs overeem appetizer recipes alistair overeem alistair overeem texas a m insight bowl
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.