Structured Settlements – Purpose and Intents
Structured Settlements provide life-long security for injury victims by way of a structured payment plan (as opposed to a lump sum settlement). The United States Congress approved structured settlements in 1982, offering injury victims a powerful disbursement compensation method for receiving periodic payments from their personal injury settlement. This valuable investment strategy provides injury victims with many tax advantages and a consistent stream of income that guarantees financial security for future financial obligations – including medical expenses, mortgage payments, student loans/tuition, general living expenses, or in-home, long term medical care.