My step-mom who is terminally ill had an accident. Her attorney says that she should take a lump sum settlement rather than a structured settlement because she needs the money now and won’t be here to receive the payments over several years. She wants me to get any remaining payments – not a lump sum after she’s gone because she is afraid i’ll blow it all if I get the full amount at one time. How should she work this out? She can go one of two ways here, one by way of a structured settlement and the other by way of a lump sum with a settlement trust. → Read More
Can I invest my tax-free lump sum settlement and still qualify for tax-free benefits on the earnings? The lump sum settlement of an injury claim is tax-free; income tax, however, is due on any earnings. That is why structured settlements are so attractive. → Read More
Are structured settlement payments considered income for purposes of public benefit programs, such as social security and medicaid? Just as with a lump sum settlement, a structured settlement’s periodic payments will be counted as income for qualifying purposes for Social Security and Medicaid. → Read More
My personal injury attorney is encouraging me to take a structured settlement rather than a lump sum for a permanent injury. What is a structured settlement and why might it be better for me than a lump sum payment? Most minor to moderate injury cases are settled with a lump sum payment to the injured party. → Read More
My six-year old son was hit by a car and will be disabled for the foreseeable future with ongoing medical and hospital costs. My husband says that the court will probably require us to do a structured settlement. What does this mean and why would the court require us rather than take a lump sum and investing it ourselves? When a minor is involved in a personal injury lawsuit as an injured claimant, our courts become very protective of their interests. Structured settlements reduce the risk that anyone will embezzle. → Read More
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