For personal injury claimants, the future is already challenging. The pandemic adds another layer of worry.
Relieving The Stress
Structured settlements offer a unique means to bring certainty to an uncertain world. Claimants have the peace of mind of knowing that they will receive a steady, guaranteed, tax-free stream of income regardless of market or economic conditions now or in the future.
This is a significant benefit when so many Americans are out of work (about 30 million in the U.S., 2.8 million in California) and the job market remains weak. Injured parties who are able to go back to work once healthy may find that their job has been eliminated. By using a structured settlement, a set amount of settlement proceeds can be deposited each month into the claimant’s bank account and go towards housing and living expenses.
For injured parties who are unable to return to work, the structured settlement advantages are even more significant. Individuals are assured that money will always be there, typically over their lifetime, to pay for day-to-day living expenses and any large projected expenses along the way.
The optimal time to bring in a structured settlement broker is before settlement negotiations begin. The broker will explain to the injured party how structures work and payment options so they can decide if a structured settlement is right for them. There is never a cost to the attorney or client for the broker’s services.
For questions about structured settlements, please feel free to contact me or give me a call.—Pat
How To Resolve a Case With No Trial
I recently had the pleasure of sponsoring a webinar presented by Bob Simon and Ricardo Echeverria on how to resolve a case without trial. This is particularly important because of the trial scheduling delays brought on by the COVID-19 pandemic.
For CAALA members, you can access the webinar for free by clicking here.