Carving Up the Loot
In old movies about the wild west, the outlaws always talk about carving out their share of the stolen loot. But did you know that courts have a term they use in relation to lottery winning payouts that also talks about carving up the amounts involved? It is called a horizontal carve-out or a vertical carve-out.
Leave it to lawyers and courts to come up with such odd sounding terms. What it refers to is a transaction where a winner decides to sell lottery payments being made over a period of time. A horizontal carve-out is when the winner sells part of the lottery payments and keeps part. A vertical carve-out is when a person sells all of the lottery payments.
When you are ready to “carve up” your lottery payments and get a lump sum settlement, a settlement broker is the place to start. You can carve up your money in a way that gets you the lump sum you need.
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