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J.G. Wentworth Blog

The Irony of an Annuity

Hi everybody.  J.G. Wentworth here.

You know there’s quite a bit or irony in life, and sometimes it’s quite beautiful and poetic.

A good example of this is a customer we had once, a married couple, Steve and his lovely wife Char, happily living in Arizona.  Unfortunately, both of their mothers became ill at about the same time.  Steve’s mother ultimately died, while Char’s mother lingered on with Alzheimer’s disease.

As a result of his mother’s death, Steve inherited an annuity.  The payments were modest, and truthfully the couple didn’t really need them.

But then Char’s mother took a turn for the worse, and the pair made the gut wrenching decision to move back to Minnesota to care for her.  Without jobs waiting for them, they needed to finance the move back and cover their living expenses.

Now that annuity Steve inherited took on renewed importance.  We bought all of Steve’s remaining annuity payments and gave Steve and Char a lump sum of cash that was more than enough to cover the move back to Minnesota and transition expenses.  This is not the same as an annuity loan, so nothing had to be paid back.

But what I think is touching about his story is how it was Steve’s mother that ultimately made it possible for him and Char to care for her mother when she needed it most.

Like I said, life can be ironic . . . beautifully so sometimes . . .  even with structured settlements and annuities.