Structured Settlements – Good Choices for People with Limited Financial Planning Experience Structured settlements are annuity policies that are generally given to winning plaintiffs of personal injury claims. These types of policies provide payments for a certain period or for the lifetime of the recipient. In turn, recipients can meet any future financial obligations without worry. Regular payments are often preferred over a cash settlement, especially if the recipient has limited financial planning experience. Annuity [...]
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Some Structured Settlements Contain Anti-sale Provisions Structured settlements are annuities that are awarded to plaintiffs who win personal injury lawsuits. In some instances, recipients choose to sell their structured settlements in order to fund a child’s education, make a major purchase, or put a down payment on real estate. However, suppose you receive a structured settlement that contains an anti-sale provision in its policy? For instance, the annuity may contain language to the effect that [...]
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The Structured Settlement Protection Act – A Key Safeguard for Sellers of Structured Settlements If you will soon receive a structured settlement annuity or want to sell your structured settlement, then it is a good idea to have a basic understanding of the Structured Settlement Protection Act, which was implemented in 2002. This piece of legislation is especially helpful to know if you are planning to sell a portion of or all of your structured [...]
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Defining a Structured Settlement A structured settlement results when a plaintiff, in a court case, is paid an agreed settlement amount by a defendant in a series of payments. Payments can be made over a specific amount of time yearly, every two years, or even every five years. However, defendants may find, after a while, that they can’t afford to wait for their payouts. Think Carefully about Your Reason for Selling your Structured Settlement – [...]
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Structured Settlements – How they are Created Generally, a structured settlement comes about when a plaintiff sues for damages and wins a court case for a personal injury claim. In turn, the defendant in the case pays the plaintiff the amount decreed by the court. If the case results in a large monetary settlement, then the defendant’s lawyer will usually suggest that the settlement in the case be paid in installments over a span of [...]
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Selling Structured Settlements Enables Settlement Recipients to Obtain Immediate Cash Structured settlement factoring companies buy structured settlements so recipients can obtain immediate cash, whether they need it to pay off a mortgage note or fund their children’s college education. Usually, a structured settlement is set up to handle the distribution of proceeds to an individual who wins a legal suit where he has become sick was or was injured as the result of negligence. A [...]
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Selling your Structured Settlement – Obtain an Attorney’s Help Usually, you’ll benefit if you consult with an attorney before signing a contract. Structured settlements are no exception. If you are thinking of selling your settlement payments to a buyer, then obtaining the aid of a lawyer will assist in safeguarding your rights. Show a lawyer the terms and conditions of the purchase contract so he can determine if you are obtaining a reasonable amount for [...]
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Determining how Your Settlement will be Paid If you’ve won a lawsuit and were awarded damages for injury or illness brought about by another party, then you’ll next need to decide how the settlement will be paid. Therefore, you’ll need to determine whether you want to obtain yearly or monthly payments during a settlement period or would like to receive lump sum payments over the course of time. Obtain Legal and Financial Consultation In some [...]
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The Definition of a Structured Settlement Structured settlements originated in Canada during the first part of the 70’s. The concept soon took hold in the U.S. and the world, including most parts of Europe. Usually, a structured settlement is the result of a bodily injury claim, where a third party or a surviving member of an individual’s family is awarded a settlement. The recipient receives the settlement package in regular payments, either for an established [...]
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Cashing in a Structured Settlement or Annuity Many companies nowadays offer structured settlement recipients the chance to cash in their structured settlement, lottery winnings, or annuity. In many instances, a person who makes this financial decision has fallen into circumstances where he is in need of the cash. For those individuals who do not necessarily need a large cash payout though, it may be more prudent to receive your settlement or annuity amount in particular [...]
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