Structured Settlement: Deciding If This Is The Way To Go
Often, a structured settlement is one that offers the payment of
funds owed in an agreed upon way. It works to allow individuals
to receive payments of the money that is owed to them in such
cases as a lottery winning or a personal injury lawsuit.
A structured settlement also allows for the company making
payments to pay in payments rather than in a large, lump sum. To
decide if a structured settlement is the right choice for you,
consider these factors.
* In many cases, a structured settlement is one that will allow
you to receive monthly payments as opposed to one large lump
sum. It is often the case that a lump sum will be worth less
than the payments could be over time. It is often the most
beneficial in dollar amounts.
* Secondly, it has more tax advantages to it than that of a lump
sum payment. It is often structured to include a lesser amount
of money going to taxes.
* It is a good choice in circumstances where the individual is
on disability, is incapable of work or has become incompetent.
In these cases, it allows for monthly payments to allow care
throughout the life time.
* In cases where a wrongful death has happened, it is necessary
for the spouse and/or children to receive monthly payments to
allow for compensation for wages.
* It is also a benefit in such cases where the money will be
needed to make payments. For example, in the payments needed for
mortgages and car loans.
A structured settlement allows for individuals to receive
payments instead of receiving a lump sum. While a lump sum may
allow for more right away, a structured settlement allows for
continuous help throughout the course of the repayment terms.
Determine which is the right situation for you is something that
you and your attorney will need to discuss further. Ask him what
a structured settlement can do for you.