Attorneys often ask me, “When is the best time to bring in a structured settlement broker to a case?” The short answer is early. You will want the broker involved well before settlement negotiations begin.
Part of your case evaluation is trying to determine, in present-value dollars, what is needed to take care of injured individuals–whether for a recuperation period or for the rest of their lives. The broker can help in this process by reviewing the complaint and the injured’s life care plan and then presenting a number of annuity payment options.
Waiting to discuss structured payment plans until the time of settlement can be overwhelming for injured parties. These are life-changing decisions and must not be made quickly or under pressure. I have found it best to present the idea early. This will give clients time to familiarize themselves with the advantages and opportunities structures present so they are well acquainted with the concept by the time the case settles.
These types of early discussions are invaluable when it comes to helping injured parties and their families feel confident and secure about their financial future.