Structured Settlements Authority

How to Get Cash for a Structured Settlement

The Role of a Structured Settlement Company

If you have been a victim of malfeasance, have been severely injured and are no longer able to physically work, you may be offered a structured settlement as compensation. This is the point where a structured settlement company can play a vital role. Settlement companies have demonstrated their ability to reduce the rising costs of personal injury settlements and costly litigation. These companies help facilitate the settlement claims in a quick and efficient manner, in many cases eliminating the need for time consuming and costly litigation. By fostering an agreement focused on the victims future needs in constructive manner less money is wasted on litigation which leaves more funds available for the beneficiary. In a structured agreement a series of settlement payments are paid over time as an annuity rather than as a cash lump sum. This arrangement helps to prevent the dissipation of funds, which often occurs in cash settlements, and provides guaranteed benefits that will be available for the beneficiarys future needs.

Roles played and action taken by the settlement specialist during each step of the structured settlement process:

The specialist will review the entire claim file and help document and define existing and future damages. The focus is on the plaintiffs future needs and making a recommendation of how a series of periodic payments can be used to meet those needs and also facilitate the settlement process. A complete estimate of the future medical expenditures and loss of earning capability is included in this complete analysis of anticipated needs. This is especially important in catastrophic cases where the injuries sustained deprive the victim the ability to physically work.

The structured settlement company will also look for and then assess medical information related to impaired life expectancy due to the accident. This impaired-life rating is important in that it may enhance the benefit stream to the beneficiary since their life expectancy has been reduced. While this calculation may sound morbid it is important. Having a 30 year annuity with lower payments is of less value to a person with a life expectancy of 15 years. They would be better served by a 15 year structured settlement with higher benefit payments.

After all the constraints have been identified, a specific proposal is developed. Structured settlements are completely customizable and the payments can be structured to precisely fit the needs of an individual case. This is one of the many benefits of structured agreements. A well written proposal will address the liability of the defendant and the specific needs of the claimant.

The proposal is used as a starting point in the structured settlement negotiation process. The settlement specialist can provide assistance throughout the negotiation process by provide their perspective and judgment which they have gained through years of training and experience.

After the structured agreement has been reached various legal documents will need to be prepared. This will involve a series of reviews and each time the draft will be modified until the final version has been reached and the documents can be released.

Legal Aspects of Getting Cash for a Structured Settlement