When you are in the middle of a personal injury lawsuit, your mind is in constant motion with questions about all the possible outcomes of your case. Although you might have an experienced personal injury lawyer on your side who is fighting for your rights to compensation, it can be tough putting your mind at ease until the case is completely settled.
Many people are worried about their settlements, and wonder how they will receive their payment in the end. Questions like, “Will I get all my money at once?” and “Is it possible that my compensation will be awarded as a structured payment?” are all common concerns by most personal injury plaintiffs.
Structured Settlements
A structured settlement is an agreed periodic payment plan in which the recipient receives a set amount of money over a specified period of time; and they are a common result of a personal injury settlement. There are both advantages and disadvantages of structured payments, depending on your particular perspective.
The number one benefit of a structured settlement is that you usually receive more money overall. In a lump sum payment, the amount is usually negotiated lower. Another major benefit is personal financial management. When a large sum of money is paid out overtime, it is typically easier to manage your finances, pay bills, save money, and maintain a positive financial portfolio. It may be especially beneficial in terms of tax liabilities as well.
Additional Benefits:
- Simpler Tax Planning
- Possible Income Tax Advantages
- Additional Annual Income
- Broader Subsidy Opportunities
- Budget Protection
One of the common downfalls to structure pay is limitation. For those consider themselves financially savvy, not receiving your full compensation can be a huge restriction since you cannot use the money to make any lucrative investments. In other cases, a personal injury victim has already paid all of their hospital bills, medical expenses, and other related expenses, out-of-pocket. They have also already incurred lost wages from work; so by not receiving a full payment can be frustrating since victims in this type of situation is simply trying to put the money back where it was before their accident.
The Outcome of a Structured Settlement
If you win your claim and an insurance company agrees to give you a structured settlement, you will not be given a paycheck right away. Instead, you will be paid a set amount over a set period of time. The terms of structured settlement agreements vary from case to case, and payment amounts and schedules can be set in many different ways. These payments generally begin as soon as all the paperwork is processed; however, this time period can vary, and sometimes can take up to one year to begin receiving payments.
Definitely, what a fantastic blog and instructive posts, I definitely will bookmark your website.Best Regards!
Whats Going down i’m new to this, I stumbled upon this I have found It absolutely helpful and it has aided me out loads. I hope to give a contribution & aid different users like its aided me. Good job.
Hello, i think that i saw you visited my site so i came to “return the favor”.I’m attempting to find things to enhance my web site!I suppose its ok to use some of your ideas!!
I view something really special in this internet site.
What is Gluco6? Gluco6 is a revolutionary dietary supplement designed to help individuals manage their blood sugar levels naturally.
Very nice post. I just stumbled upon your weblog and wished to say that I have really enjoyed browsing your blog posts. In any case I will be subscribing to your feed and I hope you write again soon!
There is noticeably a bundle to know about this. I assume you made certain nice points in features also.
But a smiling visitor here to share the love (:, btw great design. “Treat the other man’s faith gently it is all he has to believe with.” by Athenus.
I got good info from your blog
You are a very intelligent person!
Hi would you mind letting me know which hosting company you’re working with? I’ve loaded your blog in 3 completely different browsers and I must say this blog loads a lot quicker then most. Can you suggest a good internet hosting provider at a honest price? Thanks a lot, I appreciate it!
I would like to voice my respect for your kindness giving support to all those that require assistance with the concern. Your personal dedication to passing the message all over came to be really interesting and have usually enabled associates like me to achieve their objectives. Your new important key points implies so much a person like me and still more to my colleagues. With thanks; from all of us.
Hey, I think your site might be having browser compatibility issues. When I look at your website in Chrome, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, terrific blog!
I’m not sure why but this website is loading very slow for me. Is anyone else having this problem or is it a issue on my end? I’ll check back later and see if the problem still exists.
I have to express my affection for your kind-heartedness supporting women who really need assistance with this important question. Your very own commitment to getting the solution all-around turned out to be amazingly beneficial and has truly enabled most people just like me to arrive at their objectives. Your amazing warm and helpful report means a great deal to me and extremely more to my colleagues. Thank you; from all of us.
Hi there! Would you mind if I share your blog with my twitter group? There’s a lot of folks that I think would really enjoy your content. Please let me know. Cheers
Thank you for sharing excellent informations. Your site is very cool. I’m impressed by the details that you have on this website. It reveals how nicely you understand this subject. Bookmarked this website page, will come back for extra articles. You, my pal, ROCK! I found just the info I already searched all over the place and simply couldn’t come across. What a great site.
Hello! I know this is somewhat off topic but I was wondering which blog platform are you using for this site? I’m getting tired of WordPress because I’ve had problems with hackers and I’m looking at options for another platform. I would be great if you could point me in the direction of a good platform.
Hi, Neat post. There is a problem with your web site in web explorer, may test this… IE nonetheless is the market chief and a large element of people will leave out your great writing due to this problem.
I know this if off topic but I’m looking into starting my own blog and was curious what all is needed to get set up? I’m assuming having a blog like yours would cost a pretty penny? I’m not very internet savvy so I’m not 100 certain. Any tips or advice would be greatly appreciated. Appreciate it
I just like the valuable info you provide to your articles. I will bookmark your blog and take a look at once more right here frequently. I am moderately certain I will learn plenty of new stuff proper here! Good luck for the following!
Hello very nice web site!! Man .. Beautiful .. Superb .. I’ll bookmark your website and take the feeds also…I’m glad to seek out a lot of useful information here within the post, we’d like work out extra strategies on this regard, thanks for sharing.
Hey! I just wanted to ask if you ever have any trouble with hackers? My last blog (wordpress) was hacked and I ended up losing months of hard work due to no backup. Do you have any solutions to stop hackers?
Very nice post. I simply stumbled upon your weblog and wished to say that I’ve really enjoyed browsing your blog posts. In any case I will be subscribing on your rss feed and I’m hoping you write again very soon!