Structured Settlements – not exciting but very important

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I’ve had the luxury of working with some premier structured settlement planners over the years.  Personal Injury attorneys call on these professionals if an injured victim receives a sizable settlement or verdict and there is the need to ensure that the victim will have these funds, guaranteed, for years to come. 
In general, what is a structured settlement?

  1. It’s a settlement in which some or all proceeds are paid over time instead of all up front.
  2. It must be written into the settlement agreement;
  3. The obligation to make payments is assigned by the defendant (at fault insurance company) to an assignment company which purchases an annuity;
  4. The “customer” buying the annuity is an assignment company NOT the injured party;
  5. The payout is fixed and determinable.

Structured settlement is are smart ideas in many cases.  Ask your personal injury attorney whether your case or your child’s case fits the criteria.

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