Structured Settlement : Benefits & Why do you need a Structured Settlement
What is Structured Settlement
I like do a quick snippet to help you define a couple of terms related to structured settlement so let’s start off with what is a structured settlement and how to get a structured settlement. A structured settlement is a customized series of payments that result from a negotiated agreement between either plaintiff and defendant or claimant and respondent.
The claimant is where there is no lawsuit in place. The key thing that you need to understand is that a structured settlement is a negotiated agreement. A structured settlement is not foisted upon somebody in order to get a structured settlement. There has to be a settlement agreement. There has to be a good document is a qualified assignment. That document actually has to be signed by parties from both sides so it can’t be like any symptoms you read things were like of the defense force this on people.
Basically parties can negotiate anyway, that they like. So if the defense is there an offer structured some as part of their offer. That’s what they’re offering their Intel to offer whatever they want in the manner that they want and the plaintiffs sometimes demand a structured settlement and they’re allowed to demand what they want and in whatever manner they want at the end of the day no matter what you demand and when, or no matter what you offer. There has to be an agreement.
There has to be a so-called meeting of the mind’s negotiated compromise so a structured settlement is customized here payments something as result of a negotiated compromise and it is something that can be customized for the plaintiff’s needs, so the plaintiff can meet with in a settlement advisor settlement advisor settlement planner settlement consultant whatever term the person that you’re working with, or the person you want to work with has somebody who is professionally qualified can advise you on the best way to design a structured settlement and how it might or might not, in some cases fit in to an appropriate settlement plan for you but it is a fully customizable vehicle, something that is been on and in being used for 30+ years it’s been recognized by major disability organizations and it’s also been something that’s recognized by United States Congress by the passage of variety of different tax laws over the years and it’s something that is funded with primarily with annuities companies.
Many insurance companies have been in business for over 100 years. Some even before the United States Civil War. So if you’re looking for something that is gonna pay you something that is safe, sure, and guaranteed by a company that has a lot of angst behind a lot of assets behind it. A structured settlement is a good solution for Lee’s partier settlement plan.
Why Do You Need a Structured Settlement
You want a financially secure future, which means making the right decisions about money today, so before your injury case is settled.
Think carefully about a significant decision you have to make. Should you take your settlement money all at once, as a series of payments or a combination of the two answers could have a significant impact on your future electing a series of payments is known as a structured settlement annuity.
A structured settlement annuity provides you with steady, guaranteed tax-free income for many years because your payments are insured, it can help you manage your money over the long term, and answer questions like only have enough income to support my family and me over the years will I have to pay taxes on my payments will I be able to choose when I receive my payments.
The advantages of a structured settlement annuity include guaranteed income that lasts for a specific time, including the option of income for life. The ability to offset inflation and all payments are tax-free.
Additionally, Pacific life will send payments to you on the dates you select. There are also many ways to structure payments to meet your needs.
You may include your spouse and dependents. You can cover medical expenses and arrange future payments for college Pacific life has been protecting clients and their families for more than 150 years, with a deep commitment to protecting you and your family for generations to come to talk to your attorney or structured settlement consultant today about the advantages of a structured settlement annuity.