Author: O. J. Coogler
Hardcover:
204 pages
Company: Lexington Books
(1978-10)
ISBN: 0669023434
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Author: Iain S. Goldrein, Margaret R. de Haas
Hardcover:
312 pages
Company: Butterworths Tolley
(1997-05)
ISBN: 0406893225
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Company: Diane Pub Co
(1999-12)
ISBN: 0756708656
List Price: $25.00
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Author: James R Eck
Unknown Binding:
603 pages
Company: Shepard’s McGraw-Hill
(1987)
ISBN: 007172009X
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This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on February 5, 1990. The length of the article is 684 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Structured settlement concept may spread.
Author: L.H. Otis
Publication: National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: February 5, 1990
Publisher: The National Underwriter Company
Issue: n6 Page: p31(1)
Distributed by Thomson Gale
Author: L.H. Otis
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3 pages
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Company: The National Underwriter Company
(1990-02-05)
(2005-07-28)
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This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on March 8, 1999. The length of the article is 914 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Structured Settlement Sales Rules Sought.
Author: Daniel Hays
Publication: National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: March 8, 1999
Publisher: The National Underwriter Company
Volume: 103 Issue: 10 Page: 4(1)
Distributed by Thomson Gale
Author: Daniel Hays
Digital:
4 pages
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Company: The National Underwriter Company
(1999-03-08)
(2005-07-28)
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Author: Joseph Huver
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164 pages
Company: Natl Underwriter Co
(1992-12)
ISBN: 0872183424
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Author: Gerald D Martin
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Company: James Pub. Group
(2003)
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The answer to that question is difficult.
The question you might ask yourself: Do I need all the money now or just some?
You might want to sell off some payments and keep the rest or sell part of your payments and that way you can receive a reduced amount each month. There are many options to explore.
There are now laws in most state that will protect your structured settlement sale.
New law makes all structured settlement payment sales subject to a court order. If no court order, a tax equal to 40 percent will have to paid on the total amount of payments being sold. This is good, making selling your settlement safer.
When deciding whether to sell your structured settlement or not, you need to consider that your proceeds are put to good use.
For example: to pay for medcial expenses, to buy a house, pay for an education, a business opportunity or to keep from filing bankruptcy. Any good reason would make sense.
To go on vacation or buy an expensive car might not be in your best interest.
Remember this money needs to last you a long time.
My best advice is to find a ethical company that buys structured settlements. Its important that you feel secure with them. Take your time and shop around.
Frank ReCouper Sr. is President of FDR Resources and has been in financial services for over 45 years.
For more information:
http://www.money-now.net/structured_settlement_resources.htm
http://www.rp-capital.com
A structured settlement is an arrangement where instead of a lump sum of cash being awarded to a claimant, a tax-free periodic payment is agreed. Structured settlements are often used in guardianship cases, workers compensation cases, wrongful death cases and severe injury cases. Research has indicated that the more severe the injury, the more likely it will be that a structured settlement will be used.
The first thing that you may be asking yourself is, what are the advantages of taking a structured settlement over a cash settlement? The first reason is that it offers long-term financial security and protection to the plaintiff. It has been estimated that 90% of all large cash awards are spent within 5 years due to poor financial management skills.
The main advantage of structured settlements is the tax-free status of the payments and capital growth. For an example, let us suppose that a claimant has been awarded a settlement and can either take a $1 million lump sum, or $2 million spread over their lifetime. If they opt for the $1 million, although the sum itself is tax-free, any interest earned on it will be liable to income tax. However, the $2 million paid over their lifetime will not be liable to income tax.
One of the disadvantages associated with structured settlements is the perceived inflexibility of its structure. It is not possible, for example, to add your spouse’s name to the settlement agreement without the exception of a court order. If the claimant is risk averse, they may believe that they can create a higher yield by investing the money themselves. However, it can also be argued that the monthly payments of the settlement give the investor a great way to “dollar cost average” their investments.
If you are awarded a structured settlement, there are companies that give you the option to sell structured settlement payments for a lump sum cash fee. In this situation, you should always seek the advice of a trusted attorney. In recent years, this type of transaction has become increasingly popular and has resulted in more than 35 states and the federal government increasing consumer protection statutes and setting in place strict rules and regulations for these types of transactions.
Caroline Smith is a regular contributor to SettlementsCash.com - An online resource providing information on structured settlements including life settlements and cash for structured settlement payments.