Tinding yourselake A Structured Settlement Or One-Time Lump Sum Payment? by The Maida Law Firm
If you are involved with a legal decision, financial claim or insurance arrangement, the financing process to settle and resolve the claim can often take two forms. Either a one-time lump sum payment, or a long-term periodic series of deferred structured settlement payments. But which is best for your situation?
A structured settlement involves a financial or insurance arrangement which includes a periodic stream of payments, that a claimant or plaintiff accepts in order to resolve a personalinjury claim or other legal case. They were first utilized in Canada and the United States during the 1970s as an alternative to lump sum payments and are now part of the statutory tort law of several common law countries. We can help you find the best solution if you have been involved in an auto or trucking accident in or near Houston, Texas.
A structured settlement is a deferred payment method for compensating injury victims, and is a voluntary agreement between the injury victim ( plaintiff ) and the defendant. The plaintiff will receive the monetary payout over the course of a number of years through this deferred payment agreement. Under a structured settlement, an injury victim does not receive compensation for their injuries in one lump sum, but rather, they will receive a stream of tax free payments designed to meet future expenses and living needs. This type of compensation method is becoming more popular in a wide variety of legal cases.
The benefits of a structured settlement over a lump-sum payment include the security of a guaranteed long-term income with deferred payments that are exempt from income taxes. The federal government encourages the use of structured settlements in personalinjury cases. Structured settlements also attract support from plaintiff attorneys, state attorneys general, legislators, consumer and disability advocates.
Structured settlements can be ideally suited for cases with:
• Persons with disabilities • Guardianship cases that may involve minors • Workers compensation cases • Wrongful death cases • Severe injury case
Want to Sell Your Structured Settlement? Not everyone benefits from a long-term payment situation and some may want or need a lump sum instead. The owner of a structured settlement, such as lottery winners, medical, insurance, accident and lawsuit settlement owners, can often sell their rights to the deferred payment stream, in exchange for a one time lump sum payment from a variety of financial institutions. All situations are different, and as with any financial or legal issue, you should always consult your accountant and attorney.
Never feel apprehensive about asking questions of your lawyer. You are the one paying for him/her and he/she is there to work for you!
Free Consultation for your INJURY CLAIM -> We Help You Win!!! Contact –> Maida Law Firm @ 713-785-9484 8313 Southwest Fwy #102, Houston, Tx 77074 visit us at –> https://maidalawfirm.net/ Houston’s top Personal Injury Attorney –> OUR LAW FIRM TAKES NO FEES UNLESS WE WIN! #Accidents #Trucking #18-wheeler #InsuranceClaims #PersonalInjury #Attorney #Lawyer #Houston #Texas #CarAccidents
Maida Law Firm – Auto Accident Attorneys of Houston
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We focus our legal services at the Maida Law Firm in the area of Personal Injury law. By limiting our practice to Personal Injury Law, we are able to achieve the best possible results for our clients. The Maida Law firm is committed to seeking justice in every case and seeing that each of our client’s legal rights are properly protected. With over 26 years of handling Personal Injury cases, we have represented people in almost every type of circumstance and have addressed almost every type of issue.
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