Author: My own self.
http://structuredfinancialsettlement.blogspot.com
There are few legal issues which people usually ask every now and then.I will try to explain those questions in a simple and easy to understand way
1)Can a victim of any sort of injury sell his or her structured settlement?
Yes,Few structured settlements companies will not even mind buying your structured settlement for cash.Therefore,if you find your self in really a big financial crises and nothing seems to be working for you, only then you can consider selling your structured settlement to those companies.I would repeat, REMEMBER, only consider it as your last option.
2)Can a paying party increase or accelerate the payment schedule?
This is the basic issue that should be kept in mind that the party paying victim's structured settlements can not increase the flow of payment as per decided at the time of agreement.
3)What amount of tax on structured settlement would be charged?
This is really a most frequently asked question.However, the answer will please the victims who are being compensated as a result of any kind of injury.Because, the structured settlement of any kind is absolutely Tax free and not considered as normal income.
4)Are there any disadvantages of structured settlement?
The only disadvantage known is that , receiving structured settlement,the victims would not get the present value of the payments(As the purchasing power of payment decreases after every period of time).Therefore, the amount decided as compensation as lump sum will have more payment value than getting it in structured settlement.
5)Can a person transfer structured settlement ?
This answer will not be same for every one of you.Because,the transfer of structured settlement takes place according to the law of state you are living.The state law or federal law or the court system are the major sources on which the transfer depends upon.That is why it is important for a victim seeking help from an financial adviser or an attorney who must be experience about structured settlement and can guide you.You should clear all your doubts about the structured settlement case from your attorney though.
Sunday, May 10, 2009
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