Tax Avoidance is one advantage of a structure Settlement. Significantly reducing the plaintiff’s tax obligations is possible with an appropriately set-up Structured settlement. In some cases Structured Settlement may also be tax free.
When funds are necessary to pay for future needs, a structured settlement can help a plaintiff from having settlement funds dissipated. Now, if you are someone who is simply not good with money or one of those who can’t say no to relatives who want to “share the wealth” then a structured settlement can protect you from yourself. Large Settlements can easily get exhausted without structured settlements.
Minors definitely benefit from a structured settlement, which provide for certain costs during their youth. With a Structured Settlement can be used as an additional disbursement for college or other educational expenses. The Structured Settlement can be carried on into their adult life in a few more disbursements.
Injured people who have long term special needs may benefit from Structured Settlement by having periodic amount of money to purchase medical equipment and/or modified vehicles.
Of course, in some situations it would be better for the severely disabled plaintiff to set up a special needs trust, rather than a Structured Settlement.In this case it would be better for any plaintiff who is receiving, or expects to receive, Medicaid or other public assistance, or the guardian or conservator entering into a settlement on behalf of a disabled ward, should consult with a disabilities financial planner about their situation before choosing any particular settlement structure or similar option.
When funds are necessary to pay for future needs, a structured settlement can help a plaintiff from having settlement funds dissipated. Now, if you are someone who is simply not good with money or one of those who can’t say no to relatives who want to “share the wealth” then a structured settlement can protect you from yourself. Large Settlements can easily get exhausted without structured settlements.
Minors definitely benefit from a structured settlement, which provide for certain costs during their youth. With a Structured Settlement can be used as an additional disbursement for college or other educational expenses. The Structured Settlement can be carried on into their adult life in a few more disbursements.
Injured people who have long term special needs may benefit from Structured Settlement by having periodic amount of money to purchase medical equipment and/or modified vehicles.
Of course, in some situations it would be better for the severely disabled plaintiff to set up a special needs trust, rather than a Structured Settlement.In this case it would be better for any plaintiff who is receiving, or expects to receive, Medicaid or other public assistance, or the guardian or conservator entering into a settlement on behalf of a disabled ward, should consult with a disabilities financial planner about their situation before choosing any particular settlement structure or similar option.
Taken from the ExpertLaw Library http://www.expertlaw.com/library
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