Winning the lottery is something everyone dreams of. It represents the chance to quit a job, travel, and live freely with few obligations. Often lottery winners will opt to have their winnings paid out in yearly installments. While that is an attractive option in many circumstances, sometimes a prize winner needs access to immediate cash for unexpected expenses and taxes. In those instances, we can help prize winners or the companies that work with prize winners to transform all or part of those yearly installment payments into a large lump sum payment through the Ohio court system, thereby ensuring that the transaction proceeds smoothly and with utmost confidence.
The Ohio Structured Settlement Protection Act, often referred to as simply the SSPA, was enacted in 2000 and amended in 2018. This Act was passed to protect participants in structured settlement payments who have decided to buy or sell they monthly or annual structured settlement or annuity payments for a lump sum amount.
If you are an individual considering selling your payments and have questions about the process or the often complex agreements, or if you are trying to determine what your options are and whether your interests are being protected, contacting an attorney will help ensure you will benefit from the structured settlement transfer.
Whether you are a buyer or seller of lottery payments or structured settlement payments, having an experienced Ohio structured settlement attorney that can guide you or your company through the process will increase your chances of a successful transaction. For the past 20 years, Steven W. Mastrantonio has represented many companies that have purchased lottery and structured settlement payments and he has extensive knowledge on the pre-court and in-court process needed to obtain court approval for these transactions. So whether you are a company in the market to purchase payments, or an individual looking to sell payments, for more information please contact Weisensell, Mastrantonio & Niese, LLP today or fill out our online form. We will provide you with a free case evaluation and tell you more about what we do and how we can help with your transfer. Contact us today to learn more.
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