Navigating the Benefits of a Structured Settlement after a Lawsuit

Find out if you can receive all your funds at once as opposed to smaller installments.

Winning a lawsuit can be a significant milestone in someone's life, providing a sense of justice and financial security. However, what happens after is equally important. In many cases, individuals are awarded a structured settlement, which is a long-term payment plan that ensures a steady stream of income.

What happens after someone wins a lawsuit and receives a structured settlement. What are the benefits, considerations, and ways to make the most of this financial arrangement.

Understanding the Basics of a Structured Settlement

• A structured settlement is a financial arrangement where the plaintiff receives periodic payments over an agreed-upon period, instead of a lump-sum payment. This arrangement is commonly used in personal injury cases, medical malpractice claims, wrongful death suits, and other situations where a significant sum is awarded.

• Important to Know: Unlike lump sums, structured settlements don't provide you the advantage of having access to your full settlement amount, and you won't be able to invest the money how you see fit (for instance, in a home, car, or business).

Secondary Market Options

• In some cases, circumstances may change, and the recipient may require a lump-sum payment rather than a structured settlement. Although the structured settlement is designed to be a long-term payment plan, there are options available in the secondary market. Structured settlement annuity buyers exist, providing recipients with the opportunity to sell a portion or all of their future payments for a lump sum.
  

• One of the most compelling reasons to consider selling your structured settlement is the ability to access a lump sum of money immediately. Whether you're faced with mounting debt, medical expenses, or an investment opportunity, having a substantial sum of cash upfront can provide the means to address pressing financial needs or empower you to invest.

Conclusion

Winning a lawsuit can be life-changing, offering financial security and stability for the future. By understanding the basics of structured settlements and seeking professional advice, recipients can make informed decisions about their financial well-being.

There are situations where selling your structured settlement can offer tremendous advantages. The decision to sell should be made after careful consideration of your individual circumstances and financial goals. Selling your structured settlement enables you with immediate access to cash, greater control over your finances, and the opportunity to invest and maximize returns. Ultimately, it opens doors to financial freedom and the ability to shape your future.