Kinds of Structured Settlements

Learning More About The Kinds Of Structured Settlements Available

Are you currently receiving regular payments from a structured settlement? Would you like to trade in those payments for a big lump of cash?

If you’re thinking about selling your structured settlement, it is a good idea to learn more about the different kinds of structured settlements available. Not all settlements are exactly the same; some settlements offer things that other settlements don’t.

Some of the different types of annuity arrangements according to most personal injury lawyers are for :

  • Assault, Battery and Intentional Torts
  • Dog bites and animal attacks
  • Nursing home abuse
  • Slip and fall injuries

How Much Is Your Settlement Worth?

One of the first things you should try to determine is the total worth of your settlement. When you know how much you will be able to sell your settlement for, it will be easier for you to figure out whether or not selling is a good option for you.

If you don’t know what the value of your settlement is, you may want to talk to a settlement broker. They will be able to provide you with more information about your settlement’s value.

What Are The Consequences Of Selling A Settlement?

When you agree to receive a structured settlement, you are often able to receive more than you would otherwise. This is because the settlement doesn’t have to be paid out all at once; instead, it is paid off over time.

Because of this, there are occasionally consequences associated with selling a settlement. You may wind up losing out on a large portion of the settlement.

There is also a good chance that you will have to pay more taxes if you sell your settlement. If you are receiving a lot of extra income, then you will have to pay more taxes at the end of the year.

In some cases, selling your settlement may not be a good option. It’s a good idea to learn more about your situation before you agree to sell.

When Will You Be Able To Receive Your Money?

When you sell a settlement, you won’t always get your money instantly. In some cases, it takes time for the transaction to go through. The amount of time for this sort of thing varies based on the broker you are using and the type of structured settlement that you are selling off.

Thankfully, your broker should be able to provide you with plenty of information about the timeline you are looking at. Once you have a meeting with them, you should know exactly when you will receive your money.

Receiving regular settlement payments can be very helpful. However, if you’ve lost your job or have incurred major expenses, you may be interested in having more cash on hand.

In the majority of cases, structured settlements can be sold. There is an excellent chance you will be able to sell your annuity or your structured settlement payments to a broker.

However, you should try to find out more about the kinds of structured settlements available before you go through with a sale. That way, you will be able to make the best possible choice for you. You can sell your settlement the right way.

Selling Annuity Payments For Cash

Selling Annuity Payments For Cash: Is It A Good Idea?

Do you receive regular annuity payments? Are those payments a little bit smaller than you would like them to be? If you aren’t satisfied with the money that you are currently receiving, you may be able to sell your annuity payments for cash.

Obviously, selling your payments for cash isn’t always going to be a good idea. You will want to weigh all of your options before you go through with something like this.

That stated, selling payments can be beneficial. Here are a few of the things you should know about selling your payments for cash:

You’re Going To Lose Money

If you decide to sell your payments, you aren’t going to receive as much money as you would otherwise. Receiving a lump sum of cash can be very helpful, but you will have to pay a price for that convenience.

Because of this, financial experts usually recommend that you don’t sell your payments unless you need to. If you have major expenses that have to be covered, selling your payments might be a good idea. If you don’t have anything that you need to pay for, then you might want to continue to receive your regular payments.

The decision you make is going to have an impact on your financial future. No matter what choice you wind up making, you will want to make sure you are comfortable with it.

You Might Have To Pay Later On

While you will lose a portion of your annuity, there is another expense that you are going to have to worry about. Depending on your age and the amount you will be receiving, you may also have to pay back taxes at the end of the year.

You are going to want to make sure you are prepared for this extra expense. If you spend all of the money you receive from selling your annuity, you may not have enough cash to cover your tax bill.

While settling your annuity may be able to help you get back on track financially, it could also cause issues for you. You are going to want to be aware of what you are getting into.

Choose The Right Broker

More than anything else, you are going to want to make sure that the broker you sell your payments through is someone that you can trust. You shouldn’t have to question the advice that they give you; you should be able to trust them completely.

If you know someone that has sold their annuity, you may want to talk to them about the choices that they made. Try to see if they can recommend a structured settlement broker to you.

Selling your annuity payments for cash isn’t always going to be a good idea. With that said, in some cases, it can be extremely beneficial.

If you are planning on selling your settlement, you should set up an appointment to meet with a broker. They will be able to give you some very valuable information.

Structured Settlement Brokers

Choosing Structured Settlement Brokers

Are you current receiving settlement payments? Are you thinking about selling that structured settlement so that you can receive a lump sum? If you are looking into selling a structured settlement, then you are probably considering different settlement brokers.

Deciding on structured settlement brokers can be a bit of a challenge. After all, most people don’t have a lot of experience with these types of things.

With that said, if you are willing to follow all of these tips, you should be able to find brokers that can give you want you need:

Find Brokers That Are Well Established

You should try to avoid working with brokers that haven’t been working for a very long time. When brokers are new to this sort of business, it is possible that they won’t be able to make all of their promised payments.

Instead, you should sell your settlement through a broker that has a long track record of success. The more established they are, the less likely it is that you will encounter any kind of issue.

In many cases, people choose to sell their structured settlement because they are in a difficult situation. If you are dealing with this sort of predicament, you won’t want to create any kind of problems for yourself. The best thing you can do is hire a broker that you can trust to handle everything for you.

Look For Brokers That Have Received Plenty Of Positive Feedback

You should be able to find a lot of information about brokers if you search online. Try to find out what other people have to say about the brokers that you’re considering.

If people have made positive comments about brokers, that is an excellent sign. Leaving a review takes time, and most people don’t bother to write reviews if their overall experience was a good one. If people are setting aside their valuable time to write a review for brokers, then they must have been extremely satisfied with the level of service that they received.

Find Brokers That Are Willing To Answer Your Questions

There are a lot of costs associated with selling a structured settlement. You are going to want to make sure that you are fully aware of all of these costs before you sell.

Because of this, you are going to want to make sure you find a broker that will take the time to answer all of your questions. You shouldn’t be confused about the costs associated with your settlement; you should have all of the information that you need to make a smart decision.

If you’re going to be selling your structured settlement, you are going to want to find brokers that will be able to help you through this process. Thankfully, the suggestions that are listed above should help you immensely.

You should be able to find skilled and experienced brokers that can give you all of the assistance that you need. Selling off your settlement won’t be a problem at all.

So, go to the Department of Justice for a list of Structured Settlement Brokers in alphabetical order.

Structured Settlement vs. Lump Sum Payment

What Is The Difference Between A Structured Settlement And A Lump Sump Payment

If you are injured in an accident, you will probably be offered either a lump sum payment or a structured settlement. Many people wonder which type of settlement is best when talking about settlement packages. This article will explain the difference between the two settlement packages as well as the advantages and disadvantages of each.

Lump Sum Settlements

With a lump sum settlement, the entire amount of the agreed upon settlement will be dispersed at one time. This type of settlement is usually offered when the settlement amount is smaller. It may also be offered if there is a catastrophic injury that caused a death. The party’s heir will be left paying for a funeral as well as numerous medical bills.

One of the disadvantages to this type of settlement is the tax consequences. You would be responsible for the taxes on the lump sum amount. It will also change your tax bracket, which could mean an increased tax percentage.

An advantage to a lump sum settlement is the ability to receive all settlement money at one time. If you have numerous medical bills and are not permanently disabled, this may be the best option as it will allow you to immediately pay off all medical bills and get all of your payments up to date if you have been off work for some time.

Structured Settlements

Structured settlements are monetary agreements where the defendant agrees to pay the injured party smaller payments over a period of time rather than a lump sum. This type of settlement is often offered when the settlement amount is large. It is also offered when the injured party has injuries that will require continual medical care over their lifetime. This will provide the injured party with income over their lifetime, which is especially beneficial if the injured party suffers a disabling injury that prevents them from ever working again.

One of the disadvantages to this type of settlement is the inability to receive all of the money up front. Many people would rather receive a large lump sum rather than it be paid over the injured party’s lifetime. Additionally, some structured settlements have clauses that say in the event the injured party dies, no more monies will be paid.

An advantage to a structured settlement is that the injured party will have a continual flow of income over their life. This type of settlement is paid in a series of smaller amounts, which offers tax advantages. Because the amount is broken down over time, the tax consequences will be significantly less than a lump sum settlement.

Finally, a structured settlement prevents the injured party from spending the entire settlement too quickly.

As you can see there are many things to consider when you are offered the choice between a lump sum settlement and a structured settlement. Sometimes the choice is not offered.

No matter the type of settlement you are offered, read all of your paperwork carefully and have your attorney read over it before signing anything.

Workers Compensation Structured Settlement

Workers Compensation In Structured Settlements

Using structured settlements in worker’s compensation cases is quite a common occurrence these days. Although structured settlements are not always used to resolve worker’s compensation claims, they are important when an employee is permanently disabled.

This was not the case in the past. In fact, the Taxpayer Relief Act of 1997 gave worker’s compensation payment a tax-free status. Thereafter, most lawyers preferred to go for a structured settlement when his/her plaintiff was permanently injured. This read offers information on worker’s compensation in structured settlements.

Similar to most of the other structured annuities, worker’s compensation settlements annuities are invested in settlement funds such as low-risk securities by the insurance provider. This is where a qualified and experienced personal injury lawyer’s service come in handy.

When an employee is permanently injured due to whatever accident, he or she is not in a position to continue working. How and when the injured employee will receive the settlement is determined during the settlement conference. The worker can decide on whether to go for a lump sum payment or a structured settlement where he/she receives a certain amount of money for a specific period of time.

A professional personal injury lawyer is the best person to advise the employee on the best settlement method depending on the injuries sustained by the employee.

A structured settlement takes into consideration several factors such as the injured employee’s age, medical costs (short-term and long-term), life expectancy, family milestone expenses, and living expenses when finalizing the claim amount. The structured annuity will provide a steady tax-free income to the employee. This would include additional money for unexpected large expenses down the road.

A structured settlement will help the injured employee meet his/her future expenses without having to worry about fluctuations in the financial market. A regular income stream will help relieve stress and improve the self-confidence of the employee.

But you should find the right worker’s compensation attorney to represent your case. An experienced lawyer knows how to negotiate with the insurance provider of the employer to get the maximum benefits to the employee. With a host of personal injury attorneys functioning in the area, picking the right lawyer is not easy. You should do your homework properly before you shop for the best lawyer in town.

Search the Internet for the best legal representative in town. You may get a list of service providers functioning in the area for such a search. Check the websites of these professionals before you decide to pick the right candidate for the job. It saves a lot of time and effort.

In conclusion, an employee who has received serious injuries due to a workplace accident should consider a structured settlement. A good personal injury attorney is the best person to advise you on the best options in front of you. Make sure to do your research when choosing the best lawyer in town.

This read offers information on why you should go for a structured settlement when you have undergone a serious injury at your workplace

Personal Injury Lawyers

How Personal Injury Lawyers Can Help With Structured Settlements

Winning a settlement is not really the end of a personal injury claim. You should decide how you wish to get the claim. That’s where the services of a reputed personal injury lawyer come in handy. If you are entitled to a small amount, it is best to get it as a lump-sum payment.

But if your injury is serious or life-threatening, you should consider a structured settlement to benefit you for years to come. In fact, you should allow your personal injury lawyer to walk you through the process. This read offers information on how a qualified personal injury lawyer can help with structured settlements.

A lump sum payment is beneficial when you have a smaller claim for the injuries you sustained during the accident. Your lawyer will urge you to settle for a lump sum payment since it is quite beneficial under such circumstances.

The total claim amount will be paid up front under such circumstances. You may have to pay income tax on the income guaranteed through the up front payment. On the other hand, if you have suffered extensive injuries during the accident, your lawyer will urge you to agree to a structured settlement. There are so many things involved in such a settlement.

Hence, you would require the services of a reliable personal injury attorney to handle the process for you. You may have to pay taxes on the lump sum payment released by the defendant’s insurance provider. But you get only one chance to negotiate the settlement with the insurance provider. Most of the time, the insurance provider will try to award the least amount of money to the plaintiff.

This is where you need to pick the legal professional to deal with the issue. A good lawyer has extensive experience in negotiating with insurance companies. Hence, they can get the maximum benefits to you where a structured settlement is concerned.

You should be candid with the personal injury lawyer and reveal all details of the case in order for him/her to help you get the best structured settlement. Your attorney will require information about the case and future medical expenses in order to guide you through the case.

You should hire a lawyer that you feel comfortable working with. If not, you risk your chances of negotiating the best structured settlement for the case. With a bunch of personal injury lawyers functioning in the area, how are you going to find the best candidate for the job?

Make sure you perform extensive research before selecting the best lawyer for the process. It will help save time and effort during the selection process.

In conclusion, finding a good personal injury lawyer to negotiate your structured settlement is not an easy task after all. You should consider many things in this regard.

This read provides information on what to consider when choosing a reliable personal injury lawyer for structured settlements. It helps you make the right decision.

Medical Malpractice Attorneys

The Importance Of Choosing Reputed Medical Malpractice Attorneys

Medical malpractices have become a serious problem in this day and age. The likelihood of a medical malpractice is far greater today than in the past. If you or someone in your family has been a victim of the negligence of a healthcare provider, you can sue the particular doctor or healthcare provider for medical malpractice.

This is where you need the services of a reputed and experienced medical malpractice attorney in the area. The lawyer will advise you on your chances of settling the issue without a litigation process. This read offers information on the importance of selecting a reputed medical malpractice attorney in your area.

There are many things to consider when availing yourself for a medical malpractice claim. The patient must decide between a lump sum payment and structured settlement before anything else. This is where you need the services of an experienced malpractice lawyer to advise you on the best options you have.

There are times when you have to accept the lump sum payment instead of a structured settlement. In fact, you may find it difficult to compare a structured settlement to a lump sum payment at all times. It may feel like you are comparing apples to oranges at times. This is because current money has more value compared to future money.

There are many things that can affect future money such as inflation, and the overall state of the economy in the country. It is impossible to predict the inflation 100% accurately when comparing a lump sum payment with a structured settlement. But the standard level is to use a figure of 2.5%.

On the other hand, the likelihood of non-payment is also high where a structured payment is concerned. If you are dealing with a small to average insurance provider for these payments, the company could enter bankruptcy or stop paying the structured settlements in the future.

It may not happen most of the time since malpractice claims are handled by reputed insurance providers in the area. But you have to take these factors into consideration when deciding between a lump sum and structured settlement payments.

A reputed and experienced medical malpractice lawyer is the best person to help you decide between these two options. With so many lawyers functioning in the area, how will you select the best professional for the job? This is where you need to perform some research.

Check Google for the best medical malpractice attorney in the area. Check the websites of the listed service providers to see whether they are well-reputed in the area. Online review sites also play an important part in this regard.

In conclusion, selecting a medical malpractice attorney is not an easy task. There are many things to look for in this regard. The right lawyer will facilitate your decision of accepting a lump sum payment or a structured settlement for your case. This read offers information on the importance of selecting the best medical malpractice attorney.

Structured Settlement Pros and Cons

The Pros And Cons Of Structured Settlements

Most people have heard of structure settlements, which refer to a stream of future payments that are either made on a periodic basis or in a lump sum. However, there are both pros and cons of structured settlements. If you want to learn more, then read the rest of this article.

1. The Pros– One of the best things about structures settlements is you can receive more money over a period of time. This is because interest and principal accrues as time goes on. They are tax-exempt, which is why a lot of people prefer structured annuities.

You may have the option to schedule payments to start immediately. You can also choose to have payments deferred into the future or to be paid out over a period of time, which may help you pay any future expenses or you can use it as supplement income.

However, you have to choose the terms carefully because once the terms are set, you probably won’t be able to change them.

Insurance companies pay out structured settlements. The payments are fixed, too. This means you can rest assure your payments will come on schedule. These kinds of payments give you peace of mind because they are dependable, regardless of the current state of the economy.

2. Cons– Structured settlements are not that flexible. When you agree to the terms, then there really is no flexibility. Not only that, but you could end up waiting months to get paid, and sometimes it can take years to get your money. If you want flexibility, then getting structured settlement may not be for you.

If you’re faced with an emergency and you need cash, then there’s bad news. You don’t be able to access the money to take care of those emergencies. In other words, you have to wait until the payment is due to you and you cannot request it earlier than that.

Another downside is not being able to get involved with investment opportunities that may arise, unless you have just received your money. It doesn’t matter if you are going to receive money in the future from your structured settlement.

As a result, you could miss out on investment opportunities, which is why some people are not fans of structured settlements.

One major con is the insurance company may go into liquidation, which may leave your payments in limbo. Generally speaking, it’s rare for an insurance company to do this because it’s usually the top companies that offer structured settlements.

However, it is possible for any insurance company to go into liquidation, so if you don’t like the idea of this happening, then think real hard about getting a structured settlement.

Those are some of the pros and cons of structured settlements. If you are not sure whether or not you should get one, then reread this article. Afterwards, you can make a decision. With that said, all you have to do now is decide if you should get a structured settlement or if you should avoid getting one.

 

Buying Structured Settlements

Benefits Of Buying Structured Settlements

Structured settlements have become a staple of law in many ways and continue to prove beneficial for people around the world. It’s best to understand the value of structured settlements before seeking one in a case.

Let’s take a look at the main advantages of structured settlements and the value they bring in the long-term.

1) Certainty Of Payments

Being confident the payments are going to come in will win most people over. There is nothing better than being able to sit back and realize the payments will race in and you are going to enjoy the value being offered in the long-term. This is powerful for those who are running an elongated case and don’t want it to drag on any further.

With the settlement, you will be able to take a step back and relax knowing things are going to happen the way you want them to.

Plus, the legal case will be a thing of the past, and that is always a positive for both parties.

2) Tax Benefits

Another benefit comes from the tax advantages you are going to see in the long-run. The funds you are getting will be tax-free and is all going to go into your pocket. This means you are not going to fork over a cent to the government unless there is an exception based on the court ruling.

This is determined during the proceedings, but in the majority of cases, you will not have to pay a cent.

3) Can Be Combined With Lump Sum

You are also going to have the option of getting a lump sum in a few cases based on what you have already paid in expenses. This is useful for those who are not sure if regular payments will be enough in the beginning. This is why a lump sum option is there for you.

4) Helps In Negotiations

If negotiations are far apart, structured settlements can be the one thing that brings both parties closer together. There are many cases which continue to get strung along because both parties are unable to reach an agreement on what is the right compensation.

To ensure this doesn’t happen, structured settlements are mentioned as a possible solution to the problem at hand.

It wraps up many cases and is a go-to option for many lawyers because of how well it ends up working.

These are the benefits of going with a structured settlement and why many people think it is a must when it comes to the legal process. With the formation of an agreement and knowing funds will continue to come in even if bankruptcy is declared makes it a winnable situation for the plaintiff.

It is a situation that is seen all the time, and it continues to prove useful in the court of law.

For those who are plaintiffs and want to figure out a way to make things work and to get the right funds, it’s time to consider going with a structured settlement.

Selling a Structured Settlement

Is Selling A Structured Settlement A Good Idea

In many cases, when people receive a legal settlement, they don’t receive one lump sum. Instead, they get a structured settlement. This entitles them to payments over a long period of time.

If you’re in this situation, and you need cash, you may be thinking about selling your structured settlement. However, before you sell your settlement, you need to make sure that this is the best choice for you.

See What The Surrender Charges Are

If you agreed to a structured settlement, and you decide to sell that settlement off, you are probably going to have to pay surrender chargers. Depending on the terms of your settlement, you may have to surrender as much as 10% of your settlement.

If you need cash right now, selling your settlement might be worth the cost. However, if you aren’t in a desperate situation, you might want to stick with your current situation instead.

Look Into Tax Penalties

If you do wind up selling your settlement, it could wind up costing you later on. If you are 59 or younger, it is likely that you will have to pay tax penalties on the money that you receive.

If you are counting on your tax refund at the end of the year, you should know that your annuity is going to eat into it. Receiving a lump settlement could cause your taxes to significantly increase.

You don’t want to be surprised when it comes time to file your taxes. You should make sure that you are aware of how your settlement will be impacting your taxes.

Find The Right Buyer

If you are confident that selling your settlement is the right choice for you, you are going to have to find the right buyer. You should seek out a buyer that has a lot of experience with buying structured settlement payments.

When you work with the right buyer, you’ll be able to ask questions and get the information you need easily. In addition, your buyer should help you to keep the money you need right away.

If you are in a bad place, and you need to get money now, working with the right kind of buyer will really improve your situation.

Have A Plan In Place

A lot of people go overboard when they receive their lump payment. Because most people aren’t used to having access to those kinds of funds, a lot of people are able to go through their cash very quickly.

You should try to have some sort of plan in place for your money. Don’t spend recklessly; make sure you are going to be using your money wisely.

If you sell your structured settlement, you won’t be able to receive any additional payments in the future. You will have to make your money last.

Ultimately, only you can decide whether or not selling a structured settlement is the right choice for you. With that said, a lot of people have had positive experiences selling their settlement. You might have a positive experience too