Home
>
Structured Settlements
>
Structured Settlement ? Guaranteed Income for those with Disabilities

Structured Settlement ? Guaranteed Income for those with Disabilities

Up until twenty years ago, anyone who won a lawsuit as a result of a claim involving worker's compensation, wrongful death or accident had to accept a lump sum payment as their compensation. The payment would be intended to be invested, with the beneficiary living off of the proceeds for as long as their recovery was expected to take. In many cases, this type of settlement works fine, but in other cases, the results are a disaster.

It is difficult enough for someone who has been through the trauma of an accident or illness to have to adjust to a new lifestyle without having to also become an expert in the art of financial investing. If you have been active all of your life and you suddenly find yourself in a wheelchair and having to handle assets of several hundred thousand dollars or more, you could be overwhelmed. You could hire someone to handle the investments for you as well as the tax issues, but what if the person you hired wasn't trustworthy? What if you hired a greedy relative who took all of the money? What if you hired someone incompetent?

These problems, and statistics that show that people who receive large sums as compensation for accident, injury, or wrongful death often spend all of their money in a short period of time, led to Congressional action in 1982 that amended the Federal tax code to allow for structured settlements. A structured settlement is simply an agreement between the responsible party and the injured party that the payments will be made over time, rather than in a lump sum. The two parties reach an agreement, the party responsible for payment purchases an annuity, usually through an insurance company, and the injured party will receive steady income over a period of years or even a lifetime.

The payments are adjusted for inflation; the sum of all of the payments will be greater than if the amount had been paid as a lump sum. Because the payments are purchased up front as an annuity, the paying party actually pays less than the sum of the payments, as well. The result is generally a win-win situation, with the injured party receiving a steady stream of income over as long a period of time as necessary, while the paying party does not have to worry about making monthly or annual payments.

While a structured settlement is not the ideal payment arrangement in all situations where a long term injury settlement occurs, it does work well in many cases where a lump sum payout might be undesirable.

?Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including http://www.structuredsettlementhelp.com/ and http://www.structuredsettlementhelp.com/

to o hare transportation Riverwoods .. Lockport Chicago limo O’Hare

In The News:

Kurt the CyberGuy walks through steps he recommends immediately taking after getting new electronics — like phones or TVs — as gifts this holiday season.

When speaking becomes physically challenging, you can preserve your unique voice using Apple's Personal Voice and Live Speech technology.

Google Maps is deleting location history soon. Tech expert Kurt “CyberGuy" Knutsson shows you how to back it up before it's gone.

iOS 18.2 lets AirTag owners securely share item locations with trusted individuals. Tech expert Kurt “CyberGuy" Knutsson examines the powerful new feature.

The FBI is warning timeshare owners of a telemarketing scam tied to a Mexican drug cartel. Tech expert Kurt “CyberGuy" Knutsson provides steps to stay safe.

Protecting your home network includes securing your router, just like your phone or laptop. Kurt “CyberGuy" Knutsson reveals six ways to protect your Wi-Fi router from hackers.

Kurt “CyberGuy" Knutsson: ConnectOnCall breach leaks sensitive data of 910,000+ patients.

Rising elder scams: How to recognize them and protect yourself and your loved ones. Tech expert Kurt “CyberGuy" Knutsson helps you outsmart the scammers.

There are common habits and oversights that could leave your financial information vulnerable to cybercriminals, according to Kurt the CyberGuy.

Counting calories just got easier with The Drop, the world's first automated nutrition tracker using advanced computer vision and artificial intelligence.

A virtual private network can help ensure your information remains security and your privacy remains intact. Kurt the CyberGuy explains.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Artificial intelligence-based cameras are giving air defense operators unprecedented capabilities in monitoring and protecting airspace.

Apple's iOS 18.1 Inactivity Reboot automatically reboots your iPhone if it hasn't been used or unlocked for more than three days, providing better data protection.

An inventor designed rooftop solar panels for a Tesla that draws solar energy while the car is parked, adding travel mileage without plugging in.

There are currently no laws governing what artificial intelligence can and cannot do with the information it gathers; here are 10 things to avoid telling AI chatbots to keep yourself safe.

A credit union with over 240,000 members recently revealed it was targeted by cybercriminals, resulting in a data breach that was part of a two-month attack by hackers.

Scammers have become skilled at creating convincing fake websites that can easily fool unsuspecting users. The CyberGuy offers tips to protect yourself.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

CAPTCHAs, which are used by websites to confirm whether users are people or bots, are harmless, but hackers are using them to infect PCs with malware.

Hackers recently leaked personal information of about 500,000 Americans and stole patient medical records that included lab results and insurance details.

The holiday season sees a rise in mobile shopping scams. Tech expert Kurt “CyberGuy" Knutsson helps you learn how to stay safe.

Tech expert Kurt “CyberGuy" Knutsson says a VPN enhances online banking security by encrypting data and protecting privacy.

Beware of these six sneaky holiday scams. Tech expert Kurt “CyberGuy" Knutsson gives you tips to avoid falling victim.

Tech expert Kurt “CyberGuy" Knutsson reveals how to securely back up and factory reset your Android to protect your privacy and data.

Structured Settlement ? Guaranteed Income for those with Disabilities

Structured Settlements