Can a monetary settlement be placed into an account that provides gradual access to the funds?
I want to place a lump sum into an account that will give the account holder gradual access to it so they won't immediately spend the lump sum on frivolous large purchases (or at least not until later).
Does this type of account exist?
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Absolutely. It is called an annuity.
www.sec.gov/answers/annuity.htm
You give the annuity administrator (typically an insurance compnay) a large lump sum, and they agree to pay you payments at a set schedule. You can get a fix rate, or gamble with a variable rate.
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