There’s a lot of responsibility in managing an estate. Keeping track of an estate’s assets requires a considerable amount of time, attention to detail and resources. That’s why it’s important to understand your options and at least think about the possibility to sell your annuity payments for a lump sum. You may be surprised that guaranteed annuity paymentsare the change you’ve been looking for. When it comes time to reduce your estate requirements and responsibilities, annuity guaranteed payments may be the go-to choice, especially with the help of trusted funding professionals. Here are a few of the key things to think about when deciding whether or not to sell out your estate annuity.

Increase Annuity Costs

A guaranteed annuity payment is often seen as a welcome alternative to expensive and time-consuming estate management. Beneficiaries, executors and administrators can close the annuity and sell any remaining payments to offset debts and probate costs before providing a lump sum payment to the beneficiaries. Although managing the financial affairs of someone who has passed away is a highly personal and delicate task, it’s important to think logically and figure out whether holding on to the annuity is really worth it or not. In many cases, it may be in the beneficiaries’ best interests to move forward with selling the outstanding payments.

Cutting Down on Time Commitment

People have been selling estate payments for upfront funds for years, and it’s become a very popular option in the sense that sometimes it doesn’t work to wait for years on end for all of the payments to come through. Every beneficiary may have a slightly different opinion and outlook on when and why they need the money, but at the end of the day this decision-making process comes down to what will benefit all parties the most. As the executor of an estate annuity, this sudden and often unexpected responsibility requires time that many people just don’t have. If you suddenly find yourself in charge of an estate after someone close to you passes away, you may not have planned for all the extra time and resources necessary to make sure every detail is executed perfectly. Choosing to take a lump sum for future payments frees up your time and gives you greater peace of mind to continue working toward your future. Plus, probate fees and unforeseen debts are a common part of estate management, and a funding company that keeps these fees to a minimum through liquidation is a welcome solution. This way, beneficiaries get the largest payout possible, before all the fees kick in.

Worthwhile Lump Sum

Lastly, remember that you will get the best results by working with a funding company that uses a case-by-case approach for each estate annuity. This way, you can appreciate a customized plan that makes sense for everyone involved. The process of turning your estate annuity into a lump sump begins with the funding provider contacting the executor and administrator to confirm authority. This includes identity verification and cross-checks with legal documents. Then, much like in personal annuity plans, the funding specialist organizes court approval with petitions and notifications. Once the insurance company and judge approve of the lump sum, a written check is delivered directly to the estate. It’s meant to be an easy and efficient process so that you can focus on all of your other responsibilities, rather than the ins and outs of the deceased estate. Money arrives for the beneficiaries quickly so everyone can move on from the loss of a loved one.

If you’re ready to explore your options for selling your estate annuity, contact the trusted annuity payments brokers at RightWay Funding today.