Ways lottery money can be converted to cash

Purchase of future annual payments

This involves an outright purchase of your interest in the future payments of the lottery. We would then receive the annual checks directly from the lottery authority. This will provide you with a lump sum amount of cash.

Why would I want to sell my lottery payments?

Acquiring a business to develop a continuing income beyond the lottery payments.
Converting a small annual payment into a large lump sum. This is especially true for individuals in groups who split the proceeds several ways.
Make a more sizeable gift to charity in the form of a scholarship fund or endowment, or to assist in a capital improvement of a charity.
Provide enough money to pay off all existing debt. It is not unusual for lottery winners to become over extended in their purchasing, forgetting about the tax consequences until they become due.
Provide assistance to a friend or relative in need of financial assistance.

How much will I get for my future payments?

The amount will depend on several factors. There are certain legal expenses that are required . Other considerations include:

the number of payments left
how long before the entire amount is paid out,
is the lottery assignable,
how many other individuals are splitting these payments?

Loans against future payments

A second option available in providing cash flow for lottery winnings is to provide a loan secured by the future lottery payments.

Loans are structured as if winnings, after taxes, are endorsed over directly to us each year for a loan repayment. We can however, arrange direct payment from the lottery authority.

Loans arranged in this fashion can provide some tax relief with interest expenses deductible from the annual proceeds depending on the use of the proceeds other deductions may be available.

HOW TO GET STARTED:

You can begin by completing the contact form.