Lottery Winnings and Payouts
Winning changed your life, but if your lottery payout is set up in an annuity that is no longer meeting your needs, we can help.
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Lottery Payout Options
Winning the lottery, a sweepstakes, or a casino jackpot prize is a life changing experience. For many people, there are more lottery payout options available to them. Which is better? Take the lump sum or the annuity? You and your advisors are the only ones who can decide which option best suits your financial situation; but if you choose an annuity, Peachtree can help you access other options.
Get a Lump Sum
Did you want a lump sum, but your game did not offer a cash option? Did your needs change after winning and you need access to cash? Getting a lump sum for your remaining payments can help you deal with an emergency expense or finance goals such as purchasing a home or car.
You can also take advantage of another financial opportunity such as placing those assets in high-yield investments like real estate and stocks.
Annuity + Lump Sum
Want a consistent income stream but need a lump sum of cash to meet your financial goals? State lotteries require you to make an all or nothing choice; but with Peachtree, you can get the best of both worlds.
By selling only a portion of your prize payments, you can get a lump sum and still receive annuity payments.
The Tax Deferred Option
This option is available to lottery winners who want to sell their annuity payment for a lump sum but only need a portion of the lump sum and want to invest the rest. It combines the ability to receive a lump sum with an investment.
With this program, you can also set up when and how often you receive payments from your investment.*
Financial Education
How Does Selling Prize Payments Work?
We do our best to make the process of selling your prize payments as easy a process as possible. Here is how to get started:
- Contact a Peachtree Financial Solutions Representative
- Receive a quote for your lottery annuity payment sale
- Agree to and accept the lump sum offer for your payments
- Receive court approval
- Partner with Peachtree to complete the sale
How Does Selling Prize Payments Work?
We do our best to make the process of selling your prize payments as easy a process as possible. Here is how to get started:
- Contact a Peachtree Financial Solutions Representative
- Receive a quote for your lottery annuity payment sale
- Agree to and accept the lump sum offer for your payments
- Partner with Peachtree to complete the sale
FAQs
Rules and regulations vary from state to state, but many transactions are completed 60 days from the time you return your completed sale contract. We also have a number of programs available to help customers with emergencies and immediate needs while they wait. If you are ever concerned, one of our representatives can walk you through your options.
No. Whether your financial needs are big or small, we will always do our best to find the right option for you.
No. There are no hidden fees or closing costs. We cover the full cost of the transaction.
Some customers prefer to hire their own private attorney or financial planner to review the transaction. Should you choose to do so, you would be responsible for the cost.
Where you live often matters less than the state where you won your prize. We are able to assist customers with prizes in CA, CO, CT, FL, GA, LA, IL, IN, MA, ME, MI, MO, MT, NH, NJ, NY, OH, OR, PA, RI, TX, VA, WA, WI, and WV.
If you live elsewhere, we still encourage you to reach out. We may be able to help meet your needs with one of our other solutions.
You may owe federal income taxes on the future lottery payments you choose to sell. Consult a tax or finance professional for detailed advice.**
**Please consult with your independent tax advisors to determine the tax status of your payments. Peachtree does not provide legal, tax, or financial advice; please consult with appropriate independent professionals for such advice.
Call 1-800-444-8654 and speak with a representative today!
