Normally when a lawsuit is settled and judgment is won by the victim, the defendant has to pay a lump sum amount to the victim. For instance, let’s say a person is suffering with asbestosis and it is confirmed in the court of law that the disease is caused due to some negligence on the part of manufacturer.
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What is a Structured Settlement and How it Works For You
The term Structured Settlement is referred to the periodic structured payments that are paid by the defendant to the sufferer to compensate some permanent damage caused to him due to some negligence on the defendant’s side. There are two distinct advantages of such payments.
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Structured Settlement Tax Benefits
If you have been in an accident, and possibly will have payments made over time, or a cash option for structured settlements, which would you choose? My father fell recently in a store, due to some negligence in safety on the store’s part. If he gets a settlement, I am not sure if he would take payments, or a lump sum.
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Cash Option For Structured Settlements?