what is structured settlement payments 9 things you did not know
This is the form of payment that is agreed upon by two parties to be paid in the form of periodic payments on an agreed schedule, rather than as a lump sum. As a part of the negotiations, a structured settlement can be offered by the defendant or demanded by the plaintiff. In order for the deal to hold both parties must agree on the terms of the settlement.
Structured settlement can be agreed upon on cases like personal injury, medical malpractice, wrongful death, worker's compensation and other civil cases.
In simple terms, structured settlement payments are very simple. In a civil case, someone is either forced or agrees to pay someone else money to right a wrong. Instead of paying in-full (lump sum), the person will be paying the settlement money in periodic payments on an agreed schedule according to the terms of the settlement.
9 Things you didn't know about structured settlement payments
- Structured settlement can be used in cases like: personal injury - A personal injury case is a civil case where the person who's been harmed files a lawsuit seeking money from the person believed responsible for the harm; wrongful death - A structured settlement is also common way to compensate the family of someone whose death was the subject of a wrongful death claim. Families may be entitled to receive a stream of tax free payments, to replace the loss of income previously earned by the lost of loved one; worker's compensation - most people know about workers compensation, which pays out workers who get injured on the job while they recover. Payments can be used for medical treatment and wage replacement during periods when injured employees are unable to work and other expenses.
- Structured settlement payments are tax free.
- Payments can be scheduled for almost any length of time and can begin immediately or be deferred for as many years as requested. They can include future lump-sum.
- A structured settlement is unlike bonds, stocks, and mutual funds; structured settlements are not dependent on fluctuations of financial markets.
- Once the terms are finalized, the contract can't be renegotiated.
- Some parts of settlement, such as attorney's fees and punitive damages can be taxed.
- Structured settlement can subject to being split between the two spouses, in terms of divorce.
- Structured settlement can be inherited, depending on the details of your settlement agreement.
- You can sell your structured settlement for a lump-sum.
You can read more about structured settlement payments here:
read about structured settlement on wikipedia
Structured settlement companies
You can get quotes today from these companies:
- Annuity; Website: www.annuity.org
- Global financial; Website: www.glofin.com
- DRB capital; Website: www.drbcapital.com
- Oliver Branch funding; Website: www.olivebranchfunding.com
- Oasis Legal finance; Website: www.oasisfinancial.com