When To Opt For Structured Settlement, And When To Choose A Lump Sum Payout
For structured settlement based on an injury claim, there are several possibilities. How many of these will apply to you will depend on how the award is made, and on the exact laws which apply in the state where the award is made. These injury claims can arise for a variety of reasons, one of the most common being malpractice in the medical profession. Although many doctors may not be able to meet the sums of money involved, there is a requirement for insurance to meet this eventuality.
Another common source of injury claims is the workplace. The standards governing safety regulations are tighter than they have ever been, and many companies find themselves falling foul of compensation claims when something goes wrong. Again, insurance will be in place to cover the expense of paying the victim. These payout can be very severe if the injury is likely to have long lasting effects. It is actually quite uncommon for these cash awards to be made as one lump sum straight away, and there are many variations on the type of award which is made.
There are many states which take a very protective view of structured settlement, and refuse to award any lump sum payments. They take the position that if money is given to a recipient who is not a finance professional all in one go, then the likelihood is that they will fail to invest it wisely enough. If this happens to a great enough extent, they could end up in need of specialist treatment for which they will be unable to foot the bill. This could involve the state in an unnecessary burden.
The most useful and helpful type of structured settlement is where an award is made involving regular periodic payments. This is what will suit the majority of claimants, as they will not have the financial know-how to administer their own lump sum payment. However, if the claimant feels confident enough of being able to do just that, they can apply to the court for special leave to do so. This will usually be awarded unless there is a special reason why it should not be.
Be very careful that you know all of the implications before you push for structured settlement to be amended to a one off payment. One of the most significant areas which could be affected is taxation, as the changing of a court award can open up new criteria under which the income is taxed. If you have been awarded structured settlement, and take it as the court has awarded it, you will not be liable for income tax. Don't change anything without getting several opinions from people who know. The tax implications will often strengthen the case for structured settlement.
| Ringler Associates Names New Board Members Ringler Associates, Inc, the largest structured settlement company in the nation, is pleased to announce the election of two new members to the Ringler Board of Directors. Cindy Chanley, CSSC, based in the Ringler Associates Louisville, Kentucky office and John Machir, Senior Vice President of Marketing at Ringler Associates, located in Bethesda, Maryland, have been chosen by a vote at the ... | ||
Woodbridge Pre-Settlement Funding, LLC Announces Strong 4th Quarter Woodbridge Structured Funding started the pre-settlement operation in the second quarter of 2011 and has seen great results and strong growth.Boca Raton, FL (PRWEB) January 25, 2012 Woodbridge Pre-Settlement Funding LLC, a specialty finance company active in the lawsuit advance industry, has closed out 2011 with a bang. Sister company, Woodbridge Structured Funding started the pre-settlement ... | ||
Hennepin County judge: Texas firm must provide records Hennepin County District judge found "reasonable grounds to believe" company that bought structured settlements violated law... | ||
Texas court reverses injunction on RSL Funding - Houston Business Journal
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Ringler Associates Names New Board Members - EON: Enhanced Online News (press release)
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Local input sought on workers' comp - The Columbian
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Structured Settlement Glossary EUR Key Terms Explained - Seedol.com (blog)
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Ozark Funding Partners With Lead Agent To Increase Online Visibility Ozark Funding, one of the fastest settlement funding companies, teams up with Lead Agent, internet marketing consultants in a collaboration to reach more potential annuity owners looking to sell their payments.Cherry Hill, NJ (PRWEB) February 09, 2012 Ozark Funding, one of the fastest settlement funding companies, teams up with Lead Agent, internet marketing consultants in a collaboration to ... | ||
Food, Money and Structured Settlements Oh My As I wrote yesterday, we have become an instant gratification society, which has manifested into Americans being increasingly overweight, in-debt, and lacking self-control. Cheap fast food, buy now pay later deals, and cash now for your structured settlement all target the same weakness - a lack of discipline. Structured settlements are a form of imposed self-control, which allow plaintiffs to ... | ||
Getting Rich In Supposedly Illegal Businesses - Huffington Post (blog)
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Imperial Holdings, Inc. Announces President and COO, Jonathan Neuman, Takes Leave of Absence Imperial Holdings, Inc. , a specialty finance company with a focus on providing liquidity solutions on individual life insurance policies and purchasing structured settlement payments, announced today that its president and chief operating officer, Jonathan Neuman, has voluntarily taken a four month leave of absence from Imperial, effective January 27, 2012... | ||
QuoteMeaPrice.com Funds Its 100th Structured Settlement Factoring Transaction - San Francisco Chronicle (press release)
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Imperial Holdings Announces President Jonathan Neuman, Takes Leave of Absence BOCA RATON, Fla.--(BUSINESS WIRE)--Imperial Holdings, Inc. (NYSE: IFT), a specialty finance company ... | ||
QuoteMeaPrice.com Funds Its 100th Structured Settlement Factoring Transaction Website provides marketplace where funding companies compete to buy structured settlements.Sacramento, CA (PRWEB) February 16, 2012 More and more annuitants are being subjected to EURcash nowEUR commercials, baiting them to cash out their structured settlement payments. QuoteMeaPrice.com has been able to help over 100 clients get the most money possible for their future structured settlement ... | ||
J.G. Wentworths Peachtree Settlement Fundings Alledged Attempt to Thwart Competition with RSL Funding LLC Stricken . A Texas appeals court dissolved and reversed a temporary injunction against structured settlement purchasing company RSL Funding LLC that had prevented RSL from competing with Peac.. | ||
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