The Structured Settlements Idea
If you were involved in an accident at work (workers compensation claim), been involved in an automobile accident, or a wrongful death case and won that lawsuit then you were awarded a settlement. If the amount was small it would have been awarded to you in a lump sum. If it was a rather large amount then it would be awarded to you in a Structured Settlement.
Another benefit of structured settlements is that they are specially designed to meet your needs over the period of time. In case of the death of payee the guaranteed portion of settlement is paid to beneficiary named in papers.
One of the highlighted benefits of these regular payments is the excellent tax advantages that come with it. It is basically income exempted from taxes unlike the usual salary or other forms of income like royalty or dividends.
